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Financial Statements Of The Government For The 3 Months Ending 30 September 2021
Interim Financial Statements of the Government of New Zealand for the three months ended 30 September 2021
The interim Financial Statements of the Government of New Zealand for the three months ended 30 September 2021 (the financial statements) were released by the Treasury today.
The 30 September 2021 results factor in a stronger than expected starting position from the financial year 2020/21.
The economy has continued to perform better than expected for the first quarter of the 2021/22 financial year, resulting in tax revenue being higher than forecast. However, the increase in COVID-19 Alert Levels triggered a number of government fiscal support measures which meant expenses were higher than forecast and more than offset the increased tax revenue. As a result, both the operating balance before gains and losses (OBEGAL) deficit and residual cash deficit were higher than forecast in the 2021 Budget Economic and Fiscal Update (BEFU 2021).
https://img.scoop.co.nz/media/pdfs/2110/FSG_3_months_ended_30_Sept_2021.pdf
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