NZ's 2015 wafer-thin budget surplus target now within margin of error

Mon, 17 Dec 2012

By Paul McBeth Dec. 18 (BusinessDesk) - The New Zealand government is sticking to its 2015 target for getting its books back in black, but only just. The Treasury is forecasting an operating surplus before gains and losses (obegal) of just $66 million in the 2014/15 financial year, down from the $197 million buffer flagged in the May budget, according to its half-year economic and fiscal update. The government agency has pared back its expectations on revenue growth in the face of a softer economic recovery. If growth follows the Treasury...

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