Pursuits
N.Z. Sees 2015 Surplus as Christchurch Rebuild Boosts Growth
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New Zealand’s government projected a small budget surplus in 2015, the first in seven years, as rebuilding earthquake-devastated Christchurch city bolsters economic growth and tax revenue.
The operating surplus will be NZ$75 million ($62 million) in the year through June 2015 from a previously forecast NZ$66 million, Finance Minister Bill English said in his annual budget released today in Wellington. The balance will improve from a NZ$6.29 billion deficit in the year ending June 30, 2013, as the government curbs new spending and sells assets to limit debt.