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The government looks set to report a smaller deficit this year, on the back of higher tax revenue and lower spending.
Treasury figures, which exclude ACC finances, show a deficit of $6.8 billion for the 11 months ended May.
That's about $3b below what was forecast in the Budget.
The deficit for the year ended June is forecast to be nearly $12b.
The tax take was $900 million above forecast, due to higher company and provisional tax payments, and stronger earnings for state owned enterprises.
Expenses were $900m less than expected, while net debt was also marginally lower.
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This story was first published on rnz.co.nz |  |