Source: MIL-OSI Submissions
Government finance statistics (general government): Year ended June 2021 – Information release
7 December 2021
Government finance statistics (general government) gives an economic representation of New Zealand’s central and local government financial activity.
Key facts
In the year ended June 2021:
- General government net operating balance shrank to a $904 million deficit, following a $13.9 billion deficit in the year ended June 2020.
- Total operating income increased by 12 percent, mostly led by an increase in tax revenue.
- The rise in tax revenue was led by increases on income, profits, and capital gains (up 17 percent) and taxes on goods and services (up 16 percent).
- Total operating expenditure increased by 0.9 percent, following a 20 percent increase in the year ended June 2020.
- Operating expenditure growth was driven by an increase in purchases of goods and services (up 12 percent) but was partially offset by a fall in subsidies (down 66 percent).
- Net acquisition of non-financial assets rose by $89 million to $5.7 billion, following a fall in the June 2020 year.
- Net borrowing was $6.6 billion.
- Net worth increased by $40.4 billion to $373.7 billion, following a decline in 2020.
- Net debt rose $3.2 billion to $51.6 billion.
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