NZ govt operating deficit smaller than forecast, sticks to 2015 surplus target

Mon, 07 Oct 2013

By Paul McBeth Oct. 7 (BusinessDesk) - The New Zealand government posted a smaller operating deficit than forecast in the May budget on a bigger corporate tax take and less spending on the Canterbury earthquake than expected, and is sticking to its target to reach a surplus by the 2015 financial year. The operating balance before gains and losses (obegal) was $4.41 billion in the 12 months ended June 30, smaller than the $6.29 billion shortfall forecast in the Budget economic and fiscal update in May, and less than half the $9.24 billion def...

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