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Budget deficit better than forecast on NZ Super Fund gains

Posted in News June 3, 2009 - 01:00pm, Bernard Hickey

The Government's budget operating balance for the 10 months to the end of April was a deficit of NZ$7.69 billion, which was NZ$1.137 billion better than forecast in last week's budget, largely because the New Zealand Super Fund, ACC and the EQC reported investment gains that were NZ$1.1 billion above forecasts.

The OBEGAL (operating balance excluding gains and losses) deficit was NZ$1.824 billion for the period, which was NZ$135 million better than forecast. This was largely because revenues were NZ$16 million better than forecast and spending was NZ$280 million better than forecast.

Here is the full media statement from Treasury Deputy Secretary Peter Bushnell and the link to the full spreadsheet.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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