(MENAFN) According to treasury figures, New Zealand's government operating deficit in the 11 months to May was above forecasts, with tax income lower than expected, Xinhua reported.
The operating balance was in deficit by USD964.57 million, higher by USD291.12 million than estimated during the government's Budget which was published in May.
Government expenses of USD56.29 billion were 0.1 percent less than forecasts, while tax revenue of USD49.53 billion was 0.8 percent less than expected.
"Despite the economy growing by 3.8 percent in the year to March 31, sales and corporate taxes and other direct taxes were below forecast driven in part by lower-than-expected consumer spending," Finance Minister said.
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