NZ government unexpectedly posts 8-month surplus on increased tax take

Thu, 07 Apr 2016

By Jonathan Underhill April 8 (BusinessDesk) - The New Zealand government recorded a surplus in the first eight months of the year, compared to the Treasury's forecast for a deficit, mainly driven by higher-than-expected tax revenue. The operating balance before gains and losses (Obegal) was a surplus of $398 million for the eight months ended Feb. 29, compared to a forecast deficit of $332 million, the government's financial statements show. Core Crown revenue of $48.1 billion was $606 million more than expected, and included core tax...

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