Source: Statistics New Zealand
Government finance statistics (general government): Year ended June 2024 – information release – 29 November 2024 – 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 2024:
- general government net operating deficit was $3.1 billion, following a $6.7 billion deficit in the year ended June 2023
- total operating income increased by 9.7 percent, compared with the year ended June 2023, led by increases in tax revenue
- total operating expenditure increased by 7.0 percent, following a 3.4 percent increase in the year ended June 2023
- operating expenditure growth was driven by increases in social benefits (up $4.3 billion), employee expenses (up $3.5 billion), interest expenses (up $1.7 billion), and depreciation (up $1.2 billion)
- net acquisition of non-financial assets rose by $1.2 billion to $10.3 billion, compared with the year ended June 2023, driven by a rise in buildings and structures
- net worth increased by $20.6 billion to $464.6 billion, following a $19.4 billion increase in the year ended June 2023
- net debt rose by $4.1 billion to $88.9 billion, compared with the year ended June 2023.
