HYEFUHalf Year Economic and Fiscal Update (New Zealand)
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The 2014/15 surplus demonstrates how things can change in a short time, with a $572 million forecast deficit at HYEFU last December turning into a $414 million surplus by the end of the fiscal year.
Evolution of the central government budget (June years; per cent of GDP) Operating balance excluding gains and losses (OBEGAL) BEFU (1) PREFU (2) HYEFU (3) 2007 3.
After 2007, the HYEFU forecasts suggest that revenue will fall slightly as a share of GDP.