NZ govt operating deficit smaller than Budget forecast on underspend

Thu, 05 Jun 2014

By Paul McBeth June 6 (BusinessDesk) - The government posted a smaller operating deficit than expected in last month's Budget forecast as an underspend in April offset a lagging GST tax-take. The Crown's operating balance before gains and losses (obegal) was a deficit of $1.37 billion in the 10 months ended April 30, smaller than the $1.52 billion shortfall estimated in the May 15 Budget economic and fiscal update, and down from a deficit of $3.99 billion a year earlier. Core Crown expenses were $90 million below forecast at $57.88 billio...

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