Government’s underlying budget deficit better than forecast

Thu, 24 Jan 2013

Jan. 25 (BusinessDesk) – A month after releasing new budget forecasts, the New Zealand government is tracking above them. The government posted an operating deficit before gains and losses (obegal) of $3.025 billion in the five months ended November 30, which was $203 million better than the $3.228 billion deficit forecast in the half-year economic and fiscal update released on December 18. The government is trying to get its books back in the black in the 2014/15 financial year after taking serious hits from the global financial crisis and C...

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