NZ government operating deficit smaller than expected as tax take swells in December

Thu, 19 Feb 2015

By Paul McBeth Feb. 20 (BusinessDesk) - The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. The operating balance before gains and losses (Obegal) was a deficit of $990 million in the six months ended Dec. 31, smaller than the $1.37 billion shortfall forecast in the December half-year economic and fiscal update, and down from a deficit of $1.79 billion...

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