Table 2 deficit turns to surplus
PA Wellington New Zealand’s Table 2 Budget balance has turned from a $7B million deficit in the September quarter of last year to a $759 million surplus this year, mainly because of some State-owned enterprises making early repayment of loans, says the Minister of Finance, Mr Caygill.
The Table 2 deficit includes capital items but excludes big projects and financing for agricultural producer boards. The figures for the September quarter also cover different phases of the financial years because in between the Government changed the start of its financial year from July 1 to April 1. Mr Caygill said the fiscal result for the three months showed a continuing improvement. Spending other than on major projects dropped 13 per cent to $5590.8 million from $6419.0 million in the same three months last year; and receipts rose 9.8 per cent to $6350.4 million from $6340.6 million.
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Press, 13 December 1989, Page 56
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151Table 2 deficit turns to surplus Press, 13 December 1989, Page 56
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