fiscal defecit tagged posts

NZ Accounts Saw Small Improvement

February 1, 2010 New Zealand Finance

Government, old and newThe New Zealand Crown accounts for the five months to November 30th saw a marginal improvement over earlier estimates, following a better than expected New Zealand Super Fund, ACC and EQC investment performance.

According to a New Zealand Government press release, published on January 29th, the Crown’s operating deficit before gains and losses for the time period was NZD3.7 billion. The figure is NZD700 million better than previously forecast in the 2009 Half-Year Economic and Fiscal Update. The operating deficits including gains and losses for the same period were reported to be NZD1.4 billion, which was NZD1.1 billion better than forecast.

Though the figures are positive, Bill English, Finance Minister of New Zealand , has warned that the news should be taken with some caution...

Read More