NZ govt operating deficit smaller than expected on lower expenses

Thu, 22 Jan 2015

By Paul McBeth Jan. 23 (BusinessDesk) - The New Zealand's government's operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month's forecast. The operating balance before gains and losses was a deficit of $1.54 billion in the five months ended Nov. 30, smaller than the $1.66 billion forecast in the December half-year economic and fiscal update, and $2.34 billion a year earlier, the Treasury said in a statement. Core...

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