NZ budget surplus exceeds forecast in 11 months to May 31, on track to meet full-year surplus

Mon, 04 Jul 2016

By Jonathan Underhill July 5 (BusinessDesk) - The New Zealand government posted a larger-than-expected operating surplus in the first 11 months of the financial year, although most key indicators were in line with budget projections, meaning the forecast full-year surplus is likely to be achieved. The operating balance before gains and losses (obegal) was a surplus of $2.3 billion in the 11 months ended May 31, above the $1.98 billion forecast in the Budget Economic and Fiscal Update, which projected a full-year surplus of $700 million....

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