NZ govt sees wider deficit in 2014 on ACC levy cut, lower SOE profits

Tue, 17 Dec 2013

By Paul McBeth Dec. 17 (BusinessDesk) – The New Zealand government faces a wider operating deficit in the current financial year than previously predicted due to cuts to Accident Compensation Corp levies and smaller returns from state-owned enterprises, though its wafer-thin 2015 surplus is seen as getting a smidgeon bigger. The Half Year Economic and Fiscal Update forecasts a wider shortfall in the operating balance before gains and losses (obegal) in the 2014 financial year of $2.3 billion, compared to $2 billion predicted in the May budg...

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