The financial statements are for 11 months ending on 31 May 2020. It shows the financial position, and it is reported against the forecasts based on the Budget Economic and Fiscal Update 2020 (BEFU 2020).
Key highlights are:
- Core tax revenue was NZD 79.0 billion, NZD 1.5 billion or 1.9 per cent above forecast.
- Core expenses were NZD 97.3 billion, NZD 0.1 billion less than forecast.
- The OBEGAL was an NZD 16.0 billion deficit, NZD 1.6 billion less than the deficit forecast.
- Core residual cash was a deficit of NZD 19.8 billion, NZD 0.2 billion less than the deficit forecast.
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