NZ govt deficit bigger than expected as Solid Energy indemnity weighs

Tue, 09 Dec 2014

By Paul McBeth Dec. 10 (BusinessDesk) - The New Zealand government's operating deficit was wider than expected in pre-election forecasts as income tax lagged forecast and an indemnity for financially stricken coal miner Solid Energy weighed on the expense line. The operating balance before gains and losses (Obegal) was a deficit of $1 billion in the four months ended Oct. 30, more than the $740 million forecast by the Treasury in its truncated September pre-election economic and fiscal update, it said in a statement. That's smaller than t...

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