Budget Economic & Fiscal Update 2007

Published 17 May 2007

The Budget Economic and Fiscal Update (BEFU) 2007 gives a detailed statement of the Government's financial position including updated economic and fiscal forecasts, analysis of the fiscal position and a summary of specific fiscal risks.

BEFU 2007 was published conjointly with the Fiscal Strategy Report, the Budget Speech and the Executive Summary in the same hard copy publication.

Additional Information

There is also Additional Information that contains detailed economic forecast tables and additional financial information.

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Statement of Responsibility	befu07-1.pdf (20 KB) p. 60
Economic and Tax Outlook Summary Assumptions Underlying the Central Forecast Growth Eased in 2005 and 2006 Growth Rebounded in Late 2006 and Early 2007 Growth Forecast to Slow and Imbalances Expected to Subside During 2008 and 2009 Real GDP Growth Forecast to Return to Trend by 2010 and 2011	befu07-2.pdf (115 KB) pp. 61–79
Fiscal Outlook Fiscal Forecasts - Finalisation Dates and Key Assumptions Summary of the Budget Update Old GAAP and New GAAP The New Zealand Superannuation Fund Updated Fiscal Indicators Key Trends Application of the Operating Balance New Zealand International Financial Reporting Standards Revenue and Expenses Core Crown – Revenue Gains and Losses Core Crown – Expenses Top-down Adjustment to Spending Net Worth Core Crown State-Owned Enterprises and Crown Entities – Net Surpluses Comparison with Half Year Update Effect of Policy Changes on Tax Forecasts since the Half Year Update Indicators of the Government's Fiscal Performance	befu07-3.pdf (198 KB) pp. 80–114
Risks and Scenarios Summary Introduction Economic Risks Economic Scenarios Fiscal Scenarios Fiscal Sensitivities	befu07-4.pdf (76 KB) pp. 115–127
Specific Fiscal Risks Introduction Charges against Future Budgets Statement of Fiscal Risks Contingent Liabilities	befu07-5.pdf (201 KB) pp. 129–156
Generally Accepted Accounting Practice (GAAP) Series Tables Forecast Financial Statements Statement of Accounting Policies and Forecast Assumptions Government Reporting Entity as at 9 May 2007 Forecast Financial Statements Notes to the Forecast Financial Statements	befu07-6.pdf (212 KB) pp. 157–184
Core Crown Expense Tables	befu07-7.pdf (39 KB) pp. 185–189
NZ IFRS Transition - Budget 2007	befu07-8.pdf (54 KB) pp. 191–196
Glossary of Terms	befu07-9.pdf (27 KB) pp. 197–200
Additional Information	befu07-10.pdf (252 KB) pp. 1–61

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Publication Details

Budget Economic & Fiscal Update 2007

Additional Information

Statement of Responsibility

Economic and Tax Outlook

Fiscal Outlook

Risks and Scenarios

Specific Fiscal Risks

Generally Accepted Accounting Practice (GAAP) Series Tables

Core Crown Expense Tables

NZ IFRS Transition - Budget 2007

Glossary of Terms

Additional Information