NZ government accounts show smaller-than-expected deficit for first 4 months of year

Mon, 05 Dec 2016

Dec. 6 (BusinessDesk) - The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. The operating balance before gains and losses was a deficit of $131 million in the four months ended Oct. 31, compared with a deficit of about $1.1 billion forecast in the May budget. That was largely due to core Crown revenue being 3.3 percent above forecast at $25.4 billion. Corporate tax revenue was $300 million, or 10 pe...

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