International securities regulations require that visitors read and acknowledge the disclaimer below before accessing information on this web site. Click Acknowledge and Hide Disclaimer below to hide the full disclaimer (requires JavaScript to be enabled).
Disclaimer - New Zealand Debt Management Office Web Site
- The information on this web site is issued by the New Zealand Debt Management Office (NZDMO) for informational purposes. It does not contain and is not an invitation or offer to buy or sell securities. Insofar as this web site refers to any offerings of securities, such offerings are directed to countries other than the United States and no offerings are made to persons accessing this web site within Australia.
- The NZDMO takes reasonable measures to ensure the quality of the data and other information produced by the NZDMO that is made available on this web site. However, the NZDMO makes no warranty, express or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, completeness or use of any information that is available on or through this web site nor represents that its use would not infringe on privately owned rights. Further information contained on this web site is subject to change, completion or amendment without notice. Nothing contained on this web site is, or shall be relied on as a promise or representation by the New Zealand Government or the NZDMO as to the past or future. The contents of this web site should not be construed as legal, business or tax advice.
- This is a protected New Zealand Government web site. It is unlawful to intentionally cause damage to it or to any NZDMO electronic facility or data through the knowing transmission of any program, information, code, or command.
- The NZDMO systems to which this web site connects and related equipment are subject to monitoring. Information regarding users may be obtained and disclosed to authorised personnel, including law enforcement authorities, for official purposes. Access to or use of this web site constitutes consent to these terms.
- Reference to any specific commercial product, process, or service by trade name, trademark, manufacture, or otherwise does not constitute an endorsement, recommendation, or favouring by the New Zealand government or the NZDMO.
- For convenience and informational purposes only, the NZDMO server provides links to other web sites. These sites may contain information that is the copyright of third parties and subject to restrictions on reuse. Permission to use copyrighted materials must be obtained from the copyright owner and cannot be obtained from the NZDMO.
- The NZDMO is not responsible for the content of other web sites linked to or referenced from the NZDMO site. The NZDMO neither endorses the information, content, presentation, or accuracy of such web sites, nor makes any warranty, express or implied, regarding these external web sites.
- Each page on this web site must be read in conjunction with this disclaimer and any other disclaimer that forms part of it.
- By clicking on "Acknowledge and Hide Disclaimer" below, I confirm that I am either:
- resident outside of the European Economic Area; or
- person acting solely in my capacity as an authorised representative of an entity falling within one of the following descriptions:
- a legal entity authorised or regulated to operate in the financial markets, including: a credit institution, or investment firm, an other authorised or regulated financial institution, or insurance company, a collective investment scheme, a collective scheme management company, a pension fund, a pension fund management company, a commodity dealer, or an entity not so authorised or regulated but whose corporate purpose is solely to invest in securities;
- a national or regional government, a central bank, an international or supranational institution such as the International Monetary Fund, the European Central Bank, the European Investment Bank or other similar international organisations; or
- a legal entity which has two or more of (1) an average of at least 250 employees during the last financial year; (2) a total balance sheet of more than €43,000,000 and (3) an annual net turnover of more than €50,000,000, as shown in its last annual or consolidated accounts.
Disclaimer: The information on this web site is issued by the New Zealand Debt Management Office (NZDMO) for informational purposes. It does not contain and is not an invitation or offer to buy or sell securities. Each page on this web site must be read in conjunction with the disclaimer at http://www.nzdmo.govt.nz.
Current Fiscal Position and 2009 Budget
The following table summarises the government's fiscal position according to GAAP in line with the provisions of Part 2 of the Public Finance Act 1989.
| (dollar amounts in millions) Year ended 30 June |
||||||
|---|---|---|---|---|---|---|
|
2005 Actual |
2006 Actual |
2007 Actual |
2008 Actual |
2009 Actual |
2010 Half Year Update(1) |
|
Statement of Financial Performance |
||||||
| Core Crown tax revenue | 47,468 | 50,973 | 53,477 | 56,747 | 54,681 | 51,248 |
| Core Crown other revenue | 3,577 | 4,762 | 4,734 | 5,072 | 4,801 | 5,503 |
| Core Crown revenue | 51,045 | 55,735 | 58,211 | 61,819 | 59,482 | 56,751 |
| Crown entities, SOE revenue and eliminations | 14,322 | 15,690 | 16,378 | 19,660 | 20,446 | 19,221 |
| TOTAL CROWN REVENUE | 65,367 | 71,425 | 74,589 | 81,479 | 79,928 | 75,972 |
| Social security and welfare | 14,682 | 15,598 | 16,768 | 17,877 | 19,382 | 21,155 |
| Health | 8,813 | 9,547 | 10,355 | 11,297 | 12,368 | 13,434 |
| Education | 7,930 | 9,914 | 9,269 | 9,551 | 11,455 | 11,649 |
| Core government services | 2,567 | 2,507 | 4,817 | 3,371 | 5,293 | 4,071 |
| Other core Crown expenses | 10,903 | 11,754 | 12,795 | 14,901 | 15,504 | 15,211 |
| CORE CROWN EXPENSES | 44,895 | 49,320 | 54,004 | 56,997 | 64,002 | 65,520 |
| Crown entities, SOE expenses and eliminations | 13,397 | 15,015 | 14,725 | 18,845 | 19,819 | 17,917 |
| TOTAL CROWN EXPENSES | 58,292 | 64,334 | 68,729 | 75,842 | 83,821 | 83,437 |
| OBEGAL | 7,075 | 7,091 | 5,860 | 5,637 | (3,893) | (7,465) |
| Gains/(losses) | (1,144) | 2,451 | 2,162 | (3,253) | (6,612) | 2,671 |
| Operating balance | 5,931 | 9,542 | 8,022 | 2,384 | (10,505) | (4,794) |
Statement of Financial Position |
||||||
| Property, plant and equipment | 67,494 | 89,141 | 95,598 | 103,329 | 110,135 | 114,221 |
| Financial assets | 42,005 | 66,396 | 73,718 | 85,063 | 93,359 | 97,497 |
| Other assets | 19,714 | 9,503 | 11,031 | 12,443 | 13,657 | 13,399 |
| TOTAL ASSETS | 129,212 | 165,040 | 180,347 | 200,835 | 217,151 | 225,117 |
| Borrowings | 37,728 | 40,027 | 41,898 | 46,110 | 61,953 | 73,389 |
| Other liabilities | 37,243 | 41,042 | 41,622 | 49,211 | 55,683 | 56,919 |
| TOTAL LIABILITIES | 74,972 | 81,069 | 83,520 | 95,321 | 117,636 | 130,308 |
| NET WORTH | 54,240 | 83,971 | 96,827 | 105,514 | 99,515 | 94,809 |
Fiscal Indicators |
||||||
| Core Crown tax revenue | 47,468 | 50,973 | 53,477 | 56,747 | 54,681 | 51,248 |
| Core Crown expenses | 44,895 | 49,320 | 54,004 | 56,997 | 64,002 | 65,520 |
| OBEGAL | 7,075 | 7,091 | 5,860 | 5,637 | (3,893) | (7,465) |
| Operating balance | 5,931 | 9,542 | 8,022 | 2,384 | (10,505) | (4,794) |
| Net debt | 19,879 | 16,163 | 13,380 | 10,258 | 17,119 | 27,371 |
| Gross debt | 35,478 | 33,903 | 30,647 | 31,390 | 43,356 | 53,651 |
| Net worth | 54,240 | 83,971 | 96,827 | 105,514 | 99,515 | 94,809 |
(1) Budget Update announced 15 December 2009.
| (as % of GDP) Year ended 30 June |
||||||
|---|---|---|---|---|---|---|
|
2005 Actual |
2006 Actual |
2007 Actual |
2008 Actual |
2009 Actual |
2010 Half Year Update(1) |
|
GDP |
152,014 | 158,629 | 169,135 | 179,227 | 180,210 | 184,466 |
Statement of Financial Performance |
||||||
| Core Crown tax revenue | 31.2% | 32.1% | 31.6% | 31.7% | 30.3% | 27.8% |
| Core Crown other revenue | 2.4% | 3.0% | 2.8% | 2.8% | 2.7% | 3.0% |
| Core Crown revenue | 33.6% | 35.1% | 34.4% | 34.5% | 33.0% | 30.8% |
| Crown entities, SOE and elimination revenue | 9.4% | 9.9% | 9.7% | 11.0% | 11.3% | 10.4% |
| TOTAL CROWN REVENUE | 43.0% | 45.0% | 44.1% | 45.5% | 44.4% | 41.2% |
| Social security and welfare | 9.7% | 9.8% | 9.9% | 10.0% | 10.8% | 11.5% |
| Health | 5.8% | 6.0% | 6.1% | 6.3% | 6.9% | 7.3% |
| Education | 5.2% | 6.2% | 5.5% | 5.3% | 6.4% | 6.3% |
| Core government services | 1.7% | 1.6% | 2.8% | 1.9% | 2.9% | 2.2% |
| Other core Crown expenses | 7.2% | 7.4% | 7.6% | 8.3% | 8.6% | 8.2% |
| CORE CROWN EXPENSES | 29.5% | 31.1% | 31.9% | 31.8% | 35.5% | 35.5% |
| Crown entities, SOE and elimination expenses | 8.8% | 9.5% | 8.7% | 10.5% | 11.0% | 9.7% |
| TOTAL CROWN EXPENSES | 38.3% | 40.6% | 40.6% | 42.3% | 46.5% | 45.2% |
| OBEGAL | 4.7% | 4.5% | 3.5% | 3.1% | (2.2%) | (4.0%) |
| Gains/(losses) | (0.8%) | 1.5% | 1.3% | (1.8%) | (3.7%) | 1.4% |
| Operating balance | 3.9% | 6.0% | 4.7% | 1.3% | (5.8%) | (2.6%) |
Statement of Financial Position |
||||||
| Property, plant and equipment | 44.4% | 56.2% | 56.5% | 57.7% | 61.1% | 61.9% |
| Financial assets | 27.6% | 41.9% | 43.6% | 47.5% | 51.8% | 52.9% |
| Other assets | 13.0% | 6.0% | 6.5% | 6.9% | 7.6% | 7.3% |
| TOTAL ASSETS | 85.0% | 104.0% | 106.6% | 112.1% | 120.5% | 122.0% |
| Borrowings | 24.8% | 25.2% | 24.8% | 25.7% | 34.4% | 39.8% |
| Other liabilities | 24.5% | 25.9% | 24.6% | 27.5% | 30.9% | 30.9% |
| TOTAL LIABILITIES | 49.3% | 51.1% | 49.4% | 53.2% | 65.3% | 70.6% |
| NET WORTH | 27.8% | 36.0% | 53.5% | 57.6% | 58.6% | 58.4% |
Fiscal Indicators |
||||||
| Core Crown tax revenue | 31.2% | 32.1% | 31.6% | 31.7% | 30.3% | 27.8% |
| Core Crown expenses | 29.5% | 31.1% | 31.9% | 31.8% | 35.5% | 35.5% |
| OBEGAL | 4.7% | 4.5% | 3.5% | 3.1% | (2.2%) | (4.0%) |
| Operating balance | 3.9% | 6.0% | 4.7% | 1.3% | (5.8%) | (2.6%) |
| Net debt | 13.1% | 10.2% | 7.9% | 5.7% | 9.5% | 14.8% |
| Gross debt | 23.3% | 21.4% | 18.1% | 17.5% | 24.1% | 29.1% |
| Net worth | 35.7% | 52.9% | 57.2% | 58.9% | 55.2% | 51.4% |
(1) Budget Update announced 15 December 2009.
