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Government deficit remains above $5 billion

Sarah McDonald | Friday March 06, 2009 | 5 comments

The New Zealand government’s books remain in woeful shape with the latest Treasury figures showing an operating deficit of $5.5 billion, $8.8 billion lower than forecast in the pre-election update.

The operating balance, for the seven months to January 31, was 312% below its forecast $2.61 billion.

However, it was slightly above the operating deficit of $6.2 billion for the six months to December.