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Budget 2014 Home Page Budget Economic and Fiscal Update 2014

Time Series of Fiscal and Economic Indicators

Fiscal Indicators

June years 2003
Actual
2004
Actual
2005
Actual
2006
Actual
2007
Actual
2008
Actual
2009
Actual
2010
Actual
2011
Actual
2012
Actual
2013
Actual
2014
Forecast
2015
Forecast
2016
Forecast
2017
Forecast
2018
Forecast
$millions    

Revenue and expenses

   
Core Crown revenue 43,440 46,219 51,045 55,735 58,211 61,819 59,482 56,216 57,550 60,565 64,149 67,775 72,537 76,863 80,829 84,662
Core Crown expenses 39,897 41,882 44,895 49,320 54,003 56,997 64,002 64,013 70,450 69,076 70,306 71,616 73,107 75,980 78,674 81,453

Surpluses

   
Total Crown OBEGAL 4,366 5,573 7,075 7,091 5,860 5,637 (3,893) (6,315) (18,396) (9,240) (4,414) (2,447) 372 1,262 2,369 3,485
Total Crown operating balance 1,621 7,309 5,931 9,542 8,023 2,384 (10,505) (4,509) (13,360) (14,897) 6,925 2,973 3,102 4,136 5,388 6,680

Cash position

   
Core Crown residual cash 1,217 520 3,104 2,985 2,877 2,057 (8,639) (9,000) (13,343) (10,644) (5,742) (3,914) (4,306) (1,766) (50) 710

Debt

   
Gross debt1 36,617 36,017 35,478 33,903 30,647 31,390 43,356 53,591 72,420 79,635 77,984 82,157 79,834 84,673 91,548 87,154
Gross debt incl RB settlement cash and bank bills 36,617 36,017 35,478 35,867 36,805 37,745 50,973 58,891 77,290 84,168 84,286 87,802 85,479 90,318 97,193 92,799
Net core Crown debt (incl NZS Fund)2 22,647 19,902 13,324 6,302 1,620 (2,676) 5,633 12,549 23,969 33,475 34,428 34,824 37,287 36,962 34,998 32,135
Net core Crown debt2 24,531 23,858 19,879 16,163 13,380 10,258 17,119 26,738 40,128 50,671 55,835 59,421 63,567 65,321 65,484 64,867

Net worth

   
Total Crown net worth 28,012 39,595 54,240 83,971 96,827 105,514 99,515 94,988 80,887 59,780 70,011 75,467 78,633 82,838 88,314 95,121
Total net worth attributable to the Crown 27,918 39,456 54,025 83,678 96,531 105,132 99,068 94,586 80,579 59,348 68,071 70,032 73,115 77,289 82,728 89,463
Nominal GDP 135,761 146,397 155,363 163,081 173,230 185,715 185,845 192,525 200,880 209,684 213,188 230,717 241,090 252,307 262,989 272,612
% of GDP          

Revenue and expenses

   
Core Crown revenue 32.0 31.6 32.9 34.2 33.6 33.3 32.0 29.2 28.6 28.9 30.1 29.4 30.1 30.5 30.7 31.1
Core Crown expenses 29.4 28.6 28.9 30.2 31.2 30.7 34.4 33.2 35.1 32.9 33.0 31.0 30.3 30.1 29.9 29.9

Surpluses

   
Total Crown OBEGAL 3.2 3.8 4.6 4.3 3.4 3.0 (2.1) (3.3) (9.2) (4.4) (2.1) (1.1) 0.2 0.5 0.9 1.3
Total Crown operating balance 1.2 5.0 3.8 5.9 4.6 1.3 (5.7) (2.3) (6.7) (7.1) 3.2 1.3 1.3 1.6 2.0 2.5

Cash position

   
Core Crown residual cash 0.9 0.4 2.0 1.8 1.7 1.1 (4.6) (4.7) (6.6) (5.1) (2.7) (1.7) (1.8) (0.7) (0.0) 0.3

Debt

   
Gross debt1 27.0 24.6 22.8 20.8 17.7 16.9 23.3 27.8 36.1 38.0 36.6 35.6 33.1 33.6 34.8 32.0
Gross debt incl RB settlement cash and bank bills 27.0 24.6 22.8 22.0 21.2 20.3 27.4 30.6 38.5 40.1 39.5 38.1 35.5 35.8 37.0 34.0
Net core Crown debt (incl NZS Fund)2 16.7 13.6 8.6 3.9 0.9 (1.4) 3.0 6.5 11.9 16.0 16.1 15.1 15.5 14.6 13.3 11.8
Net core Crown debt2 18.1 16.3 12.8 9.9 7.7 5.5 9.2 13.9 20.0 24.2 26.2 25.8 26.4 25.9 24.9 23.8

Net worth

   
Total Crown net worth 20.6 27.0 34.9 51.5 55.9 56.8 53.5 49.3 40.3 28.5 32.8 32.7 32.6 32.8 33.6 34.9
Total net worth attributable to the Crown 20.6 27.0 34.8 51.3 55.7 56.6 53.3 49.1 40.1 28.3 31.9 30.4 30.3 30.6 31.5 32.8
  1. Excludes Reserve Bank settlement cash and bank bills
  2. Excludes advances
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