Hon Nicola Willis
Minister of Finance

The latest financial statements show the Government’s books are tracking broadly as expected, with some indicators in better shape than forecast at the Half Year Economic and Fiscal Update last year.

The Interim Financial Statements of the Government of New Zealand for the six months ended 31 December 2024 were published by Treasury today.

Treasury reports a $400 million improvement in the Government’s headline operating balance indicator, OBEGALx, compared to what was forecast. Net core Crown debt is $700 million lower than forecast.

“The Government is committed to returning OBEGALx to surplus and to bringing net core Crown debt below 40 per cent of GDP,” Finance Minister Nicola Willis says.

“Prudence with taxpayers’ money supports the Government’s work to grow the economy, invest in things that matter most to New Zealanders and build resilience to future shocks.”

The publication of the statements coincides with the launch of the Government’s Going for Growth progress report, which lays out the work already underway, as well as the work planned, to grow New Zealand’s economy.

“Economic growth supports the ability and speed with which we can rectify the Government’s financial position."

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