Surplus surprise underscores NZ's positive ratings outlook: Fitch

Thu, 15 Oct 2015

By Suze Metherell Oct. 15 (BusinessDesk) - New Zealand's unexpected budget surplus "underscores" Fitch Ratings' positive outlook on the sovereign AA rating, although questions linger about the health of the dairy sector. Yesterday, Finance Minister Bill English announced an operating balance before gains and losses (obegal) surplus of $414 million for the 12 months ended June 30, better than the deficit of $684 million predicted in the May budget, and a turnaround from the shortfall of $2.8 billion a year earlier. That ended six years of...

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