(MENAFN) New Zealand's Finance Minister, Bill English, announced that during the 6 months ending December, the government's operating shortfall fell by USD133.51 million, reaching USD2.70 billion, reported Xinhua News.
English attributed the decline to lower spending, which stood at USD229.45 million, less by 0.8 percent from forecasts.
In the 6-month period, core expenditure was 32.8 percent of gross domestic product (GDP), compared with 2009 forecasts of 36.3 percent of GDP by 2012-2013.
The minister noted that the progress means that in the coming few years, the government can lower the rate to nearly 30 percent of GDP.
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