NZ 1H operating deficit smaller than forecast; actuarial gain pushes books into black

Tue, 19 Feb 2013

Feb. 20 (BusinessDesk) - The New Zealand government had a smaller than expected first-half operating deficit after Treaty of Waitangi settlement costs didn't eventuate in the period, and tax revenue was in line with forecasts. The operating balance before gains and losses (obegal) was a deficit of $3.19 billion in the six months ended Dec. 31, 4.7 percent smaller than expected in the December half-year economic and fiscal update, according to the Crown's latest accounts. Core tax revenue of $27.34 billion was just 0.1 percent off the HYEFU f...

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