NZ govt operating deficit wider than expected as Kaikoura costs mount, customs duties lag

Mon, 04 Dec 2017

By Paul McBeth Dec. 5 (BusinessDesk) - The New Zealand government's operating deficit was slightly wider than expected in the first four months of the financial year as the cost of reinstating State Highway 1 between Picton and Christchurch was more expensive than anticipated and as customs and excise duties lagged behind forecast. The operating balance before gains and losses (obegal) was a deficit of $308 million in the four months ended Oct. 31, compared to a forecast shortfall of $217 million and widening from $131 million a year ear...

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