NZ govt 5-month deficit wider than expected as tax-take misses forecast

Mon, 25 Jan 2016

By Paul McBeth Jan. 26 (BusinessDesk) - The New Zealand government's operating deficit was wider than expected in the first five months of the financial year as the corporate and income tax takes were lower than forecast, in what Treasury officials said were largely timing issues. The operating balance before gains and losses (obegal) was a deficit of $1.62 billion in the five months ended Nov. 30, larger than the $1.24 billion shortfall predicted, and 5.2 percent wider than the $1.54 billion deficit a year earlier, according to the gove...

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