NZ operating surplus swelled by higher-than-expected tax revenue in first 9 months

Mon, 07 May 2018

By Jonathan Underhill May 8 (BusinessDesk) - The New Zealand government's operating surplus was boosted by higher-than-expected tax revenue in the first nine months of the year, suggesting the annual balance will be better than the Treasury had projected. The operating balance before gains and losses (obegal) was a surplus of $3.3 billion in the nine months ended March 31, beating the forecast $2.38 billion in the half-year economic and fiscal update. For the year ending June 30, the HYEFU projected an obegal surplus of $2.54 billion....

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