NZ govt's operating deficit in line with expectations in first three months; debt below forecast

Mon, 06 Nov 2017

By Paul McBeth Nov. 7 (BusinessDesk) - The New Zealand government posted a small operating deficit in line with expectations in the first three months of the 2018 fiscal year while debt was below forecast, giving the new Labour-led administration more headroom for big-ticket spending items. The operating balance before gains and losses (obegal) was a deficit of $90 million in the three months ended Sept. 30, $3 million below forecast, and compared to a surplus of $222 million a year earlier. Tax revenue rose 3.9 percent to $18 billion, l...

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