WELLINGTON: New Zealand's state accounts released yesterday reveal a government
operating surplus that exceeds forecasted figures by one-third.
Treasury figures show a 1.966 billion-dollar (US$1.154 billion) operating
surplus for the year ending June 30, exceeding the forecast in the May budget by
The operating balance excluding revaluations and accounting policy changes,
which the government prefers to focus on, came in at US$5.580 billion -some
US$1.539 billion better than forecast.
Finance Minister Michael Cullen said the fiscal position on balance day showed a
significant shift since the budget forecasts were approved in April. -AFP