The Government's books in November were better than forecast, Treasury said today.The operating balance for the five months to November 30, taking out unrealised investment gains or losses, was a deficit of $3.71 billion, or 15.4 percent better than the $
The Government's books in November were better than forecast, Treasury said today.
The operating balance for the five months to November 30, taking out unrealised investment gains or losses, was a deficit of $3.71 billion, or 15.4 percent better than the $4.38b forecast.
Treasury said the improved deficit was largely because of higher corporate and GST revenue, and reduced expenses.
However, the improved tax take was seen as a result of an extra day attributable to November, and was likely to return to forecast in December's accounts.
The net operating balance was a deficit of $1.41b, $1.1 billion better than forecast, due to higher investment returns.
Net government debt stood at $22.73b, largely in line with forecast, or 12.3 percent of gross domestic product.
The Government's net cash position, the difference between all income and spending -- operational and capital -- was a deficit of $5.28b compared with a forecast deficit of $5.12b.
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