NZ govt operating deficit smaller than forecast on improving tax take, delayed expenses

Thu, 07 Nov 2013

By Paul McBeth Nov. 8 (BusinessDesk) - The New Zealand government posted a smaller operating deficit than forecast in the May budget in the first three months of the financial year as it reaped a bigger tax take than expected, and didn’t have to book expenses as early as it predicted. The operating balance before gains and losses (obegal) was $1.29 billion in the three months ended Sept. 30, smaller than the $1.67 billion forecast in the Budget economic and fiscal update in May, and down from a shortfall of $2.12 billion a year earlier. C...

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