NZ govt posts surprise budget surplus in first 9 months

Mon, 09 May 2016

By Jonathan Underhill May 10 (BusinessDesk) - The New Zealand government posted a budget surplus in the first nine months of the financial year, against a Treasury forecast for a deficit, reflecting tax revenue that rose faster than Crown expenses. The operating balance before gains and losses (obegal) was a surplus $167 million in the nine months ended March 31, compared with a forecast deficit of exactly the same amount, $167 million, in the half-year economic and fiscal update, the government's financial statements show. Finance Min...

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