Politics

Govt announces unexpected budget surplus

10:40 am on 8 April 2016

The government has recorded a unexpected budget surplus in the eight months to the end of February.

The operating balance before gains and losses showed a surplus of $398 million for that period, when it had been forecasting a deficit.

The current surplus compares with a deficit of $269 million at the same time last year.

Core Crown tax revenue has increased by 5.3 percent while core Crown expenses have grown by 3 percent over that time.

Net debt was lower than forecast at $62.4 billion.