New Zealand government’s fiscal deficit was less than expected in April

New Zealand Treasury issues financial statements for the 10 months to April:

• New Zealand government net operating deficit to April 30 is NZ$1.37 bln, -9.7% v.s forecast
• New Zealand government net debt at April 30 is NZ$62.25 bln, 28.1% of GDP vs. 28.1% forecast

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I expect we’ll get some comments from New Zealand finance minister English following the report. English’s party (led by PM Key) is way ahead on the polls for the election due in September).

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More via Reuters:

The New Zealand government’s fiscal deficit was less than expected in April on the back of lower than expected spending, the Treasury said on Friday.

The operating balance excluding gains and losses (OBEGAL), which strips out unrealised investment gains or losses, for the 10 months to April 30 was a deficit of NZ$1.37 billion ($1.16 billion), 9.7 percent smaller than the Treasury’s forecasts updated in the annual budget last month.

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Kiwi $ more or less unchanged on the news after climbing overnight as the ECB eased (gimme that yield!)