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Half Year Economic & Fiscal Update 2009

Time Series of Fiscal and Economic Indicators

Fiscal Indicators

June Years
$ millions
1997
Actual
1998 Actual 1999 Actual 2000 Actual 2001 Actual 2002 Actual 2003 Actual 2004 Actual 2005 Actual 2006 Actual 2007 Actual 2008 Actual 2009 Actual 2010 Forecast 2011 Forecast 2012 Forecast 2013 Forecast 2014 Forecast
Fiscal Indicators
Nominal GDP ($ million) 99,046 101,558 104,664 111,046 118,358 125,824 132,750 143,187 152,079 158,713 169,400 179,024 180,210 184,466 193,966 203,873 213,738 223,980

 

Fiscal Indicators
June Years
1997
Actual
1998 Actual 1999 Actual 2000 Actual 2001 Actual 2002 Actual 2003 Actual 2004 Actual 2005 Actual 2006 Actual 2007 Actual 2008 Actual 2009 Actual 2010 Forecast 2011 Forecast 2012 Forecast 2013 Forecast 2014 Forecast

$ millions

 

Revenue and Expenses

 
Core Crown revenue 33,131 34,242 32,880 34,946 37,842 39,945 43,440 46,219 51,045 55,735 58,211 61,819 59,482 56,751 60,045 63,147 66,911 70,312
Core Crown expenses 31,368 32,982 33,939 34,829 36,559 37,513 39,897 41,882 44,895 49,320 54,003 56,997 64,002 65,520 68,946 70,721 73,974 76,228

Surpluses

 
Total Crown OBEGAL 1,801 2,345 128 594 1,422 2,471 4,366 5,573 7,075 7,091 5,860 5,637 (3,893) (7,465) (6,684) (6,000) (5,775) (4,867)
Total Crown operating balance 1,863 2,048 1,705 1,405 1,208 2,286 1,621 7,309 5,931 9,542 8,023 2,384 (10,505) (4,794) (5,128) (4,153) (3,728) (2,673)

Cash Position

 
Core Crown residual cash 3,913 484 2,048 (386) 349 216 1,217 520 3,104 2,985 2,877 2,057 (8,639) (10,091) (11,349) (10,353) (8,681) (7,443)

Debt

 
GSID (excluding liquidity mgmt) 36,236 38,475 37,307 36,580 37,194 36,650 36,617 36,017 35,478 33,903 30,647 31,390 43,356 53,651 64,406 69,077 73,401 80,528
Net core Crown debt (incl NZS Fund)1 30,317 30,472 25,923 25,895 24,908 24,773 22,647 19,902 13,324 6,302 1,620 (2,676) 5,633 12,560 22,987 32,222 39,483 45,879
Net core Crown debt1 30,317 30,472 25,923 25,895 24,908 25,388 24,531 23,858 19,879 16,163 13,380 10,258 17,119 27,371 38,788 49,033 57,546 64,910

Net Worth

 
Total Crown net worth 12,570 14,579 10,121 12,605 15,450 22,825 28,012 39,595 54,240 83,971 96,827 105,514 99,515 94,809 89,705 85,558 81,831 79,159
NZS Fund net worth ..  ..  ..  ..  ..  615 1,884 3,956 6,555 9,861 12,973 14,212 13,688 15,573 16,431 17,342 18,301 19,317

% GDP

 

Revenue and Expenses

 
Core Crown revenue 33.5 33.7 31.4 31.5 32.0 31.7 32.7 32.3 33.6 35.1 34.4 34.5 33.0 30.8 31.0 31.0 31.3 31.4
Core Crown expenses 31.7 32.5 32.4 31.4 30.9 29.8 30.1 29.2 29.5 31.1 31.9 31.8 35.5 35.5 35.5 34.7 34.6 34.0

Surpluses

 
Total Crown OBEGAL 1.8 2.3 0.1 0.5 1.2 2.0 3.3 3.9 4.7 4.5 3.5 3.1 (2.2) (4.0) (3.4) (2.9) (2.7) (2.2)
Total Crown operating balance 1.9 2.0 1.6 1.3 1.0 1.8 1.2 5.1 3.9 6.0 4.7 1.3 (5.8) (2.6) (2.6) (2.0) (1.7) (1.2)

Cash Position

 
Core Crown residual cash 4.0 0.5 2.0 (0.3) 0.3 0.2 0.9 0.4 2.0 1.9 1.7 1.1 (4.8) (5.5) (5.9) (5.1) (4.1) (3.3)

Debt

 
GSID (excluding liquidity mgmt) 36.6 37.9 35.6 32.9 31.4 29.1 27.6 25.2 23.3 21.4 18.1 17.5 24.1 29.1 33.2 33.9 34.3 36.0
Net core Crown debt (incl NZS Fund) 30.6 30.0 24.8 23.3 21.0 19.7 17.1 13.9 8.8 4.0 1.0 (1.5) 3.1 6.8 11.9 15.8 18.5 20.5
Net core Crown debt 30.6 30.0 24.8 23.3 21.0 20.2 18.5 16.7 13.1 10.2 7.9 5.7 9.5 14.8 20.0 24.1 26.9 29.0

Net Worth

 
Total Crown net worth 12.7 14.4 9.7 11.4 13.1 18.1 21.1 27.7 35.7 52.9 57.2 58.9 55.2 51.4 46.2 42.0 38.3 35.3
NZS Fund net worth ..  ..  ..  ..  ..  0.5 1.4 2.8 4.3 6.2 7.7 7.9 7.6 8.4 8.5 8.5 8.6 8.6

1 Excludes advances

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