Budget surplus leaps $1.5b ahead of forecast, but set to reverse next month

The Budget surplus has jumped out to $2.5 billion less than two weeks after the Budget forecast a $1b surplus for the 10 months to the end of April.

But the improvement may not last, with Treasury saying it may reverse next month because of timing issues around its forecasting.

Treasury said the $1.5b improvement in the operating balance excluding gains and losses (OBEGAL) was driven by tax revenues tracking $1.2b (2.0 per cent) higher than forecast for the 10 month period and $5b (8.8 per cent) higher than the same period last year.

from Ellie NZ Rss http://www.stuff.co.nz/business/93362343/Budget-surplus-leaps-1-5b-ahead-of-forecast-but-set-to-reverse-next-month

from
https://ellieplume83.wordpress.com/2017/06/06/budget-surplus-leaps-1-5b-ahead-of-forecast-but-set-to-reverse-next-month/