Government finance statistics (general government): Year ended June 2022 – Information release

7 December 2022

Government finance statistics (general government) gives an economic representation of New Zealand’s central and local government financial activity.

Key facts

In the year ended June 2022:

  • general government net operating deficit was $7.0 billion, following a $0.8 billion deficit in the year ended June 2021
  • total operating income increased by 10.6 percent, led by an increase in tax revenue
  • the rise in tax revenue was led by increases in income, profits, and capital gains (up 17.3 percent)
  • total operating expenditure increased by 15.3 percent, following a 0.9 percent increase in the year ended June 2021
  • operating expenditure growth was driven by an increase in subsidies (up $7.5 billion) and a further increase in purchases of goods and services (up $4.8 billion)
  • net acquisition of non-financial assets rose by $1.9 billion to $9.5 billion following a rise in the June 2021 year
  • net borrowing was $16.6 billion
  • net worth increased by $22.7 billion to $406.1 billion, following a $45.3 billion increase in 2021
  • net debt rose $17.9 billion to $70.2 billion.

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