Government Finance Statistics (General Government): Year Ended June 2024

Government finance statistics (general government) gives an economic representation of New Zealand's central and local government financial activity.

Key facts
In the year ended June 2024:

• general government net operating deficit was $3.1 billion, following a $6.7 billion deficit in the year ended June 2023
• total operating income increased by 9.7 percent, compared with the year ended June 2023, led by increases in tax revenue
• total operating expenditure increased by 7.0 percent, following a 3.4 percent increase in the year ended June 2023
• operating expenditure growth was driven by increases in social benefits (up $4.3 billion), employee expenses (up $3.5 billion), interest expenses (up $1.7 billion), and depreciation (up $1.2 billion)
• net acquisition of non-financial assets rose by $1.2 billion to $10.3 billion, compared with the year ended June 2023, driven by a rise in buildings and structures
• net worth increased by $20.6 billion to $464.6 billion, following a $19.4 billion increase in the year ended June 2023
• net debt rose by $4.1 billion to $88.9 billion, compared with the year ended June 2023.

Visit our website to read this information release and to download CSV files:

• Government finance statistics (general government): Year ended June 2024: https://www.stats.govt.nz/information-releases/government-finance-statistics-general-government-year-ended-june-2024

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