The financial statements of Government for the four months that ended October 31 were released by Treasury today, showing the books in better shape than expected.
The operating deficit was $1.9 billion better than forecast at $8.8b and net core Crown debt was $3.1b better than expected at $97b.
The operating balance before gains and losses was a $3.8b deficit — $4.8b less than the deficit forecast.
Core Crown tax revenue came in at $29.9b and core Crown expense was at $35.7b, $1.6b below forecast.
The total borrowings was at $159.9b, which was $29.1b below the forecast.
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Finance Minister Grant Robertson said debt servicing costs "remain low and are forecast to stay that way".
"Overall, the Government accounts are holding up well."
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