NZ government 10-month operating surplus tops forecast but insurance claims weigh

Mon, 04 Jun 2018

By Rebecca Howard June 5 (BusinessDesk) - The New Zealand government's operating surplus was just above forecast in the first 10 months of the year but the result was weighed on by higher-than-expected insurance claim costs. The operating balance before gains and losses (obegal) was a surplus of $3.41 billion in the 10 months ended April 30 versus a forecast of $3.25 billion in the budget economic and fiscal update, published May 17. That update is projecting obegal surplus of $3.14 for the year ended June 30. Core Crown tax revenue a...

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