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Half Year Economic and Fiscal Update 2012

Time Series of Fiscal and Economic Indicators

Fiscal Indicators
June Years 2001
 Actual
2002
 Actual
2003
 Actual
2004
 Actual
2005
 Actual
2006
 Actual
2007
 Actual
2008
 Actual
2009
Actual
2010
Actual
2011
Actual
2012
Actual
2013
Forecast
2014
Forecast
2015
Forecast
2016
Forecast
2017
Forecast

$ millions

   

Revenue and Expenses

   
   Core Crown revenue 37,842 39,945 43,440 46,219 51,045 55,735 58,211 61,819 59,482 56,216 57,550 60,565 62,939 67,786 71,817 74,967 78,267
   Core Crown expenses 36,559 37,513 39,897 41,882 44,895 49,320 54,003 56,997 64,002 64,013 70,450 69,076 71,998 71,781 73,652 75,557 78,044

Surpluses

   
   Total Crown OBEGAL 1,422 2,471 4,366 5,573 7,075 7,091 5,860 5,637 (3,893) (6,315) (18,396) (9,240) (7,340) (2,011) 66 1,383 2,048
   Total Crown operating balance 1,208 2,286 1,621 7,309 5,931 9,542 8,023 2,384 (10,505) (4,509) (13,360) (14,897) (3,275) 49 2,101 3,550 4,385

Cash Position

   
   Core Crown residual cash 349 216 1,217 520 3,104 2,985 2,877 2,057 (8,639) (9,000) (13,343) (10,644) (9,782) (6,949) (4,555) (3,273) (2,871)

Debt

   
   Gross debt1 37,194 36,650 36,617 36,017 35,478 33,903 30,647 31,390 43,356 53,591 72,420 79,635 80,176 88,442 86,252 90,060 95,859
   Gross debt incl RB settlement cash and bank bills 37,194 36,650 36,617 36,017 35,478 35,867 36,805 37,745 50,973 58,891 77,290 84,168 85,611 93,877 91,687 95,515 101,339
   Net core Crown debt (incl NZS Fund)2 24,908 24,773 22,647 19,902 13,324 6,302 1,620 (2,676) 5,633 12,549 23,969 33,475 40,332 45,454 47,712 48,657 49,167
   Net core Crown debt2 24,908 25,388 24,531 23,858 19,879 16,163 13,380 10,258 17,119 26,738 40,128 50,671 59,998 66,749 70,685 73,477 75,860

Net Worth

   
   Total Crown net worth 15,450 22,825 28,012 39,595 54,240 83,971 96,827 105,514 99,515 94,988 80,887 59,780 58,062 59,717 63,422 68,650 73,257
   Total net worth attributable to the Crown 15,450 22,766 27,918 39,456 54,025 83,678 96,531 105,132 99,068 94,586 80,579 59,348 56,285 56,545 58,825 62,598 67,035
Nominal GDP 120,911 128,629 135,709 146,318 155,331 163,296 173,203 185,917 185,838 191,314 200,641 208,219 216,048 228,797 239,279 249,023 259,149

% GDP

         

Revenue and Expenses

   
   Core Crown revenue 31.3 31.1 32.0 31.6 32.9 34.1 33.6 33.3 32.0 29.4 28.7 29.1 29.1 29.6 30.0 30.1 30.2
   Core Crown expenses 30.2 29.2 29.4 28.6 28.9 30.2 31.2 30.7 34.4 33.5 35.1 33.2 33.3 31.4 30.8 30.3 30.1

Surpluses

   
   Total Crown OBEGAL 1.2 1.9 3.2 3.8 4.6 4.3 3.4 3.0 (2.1) (3.3) (9.2) (4.4) (3.4) (0.9) 0.0 0.6 0.8
   Total Crown operating balance 1.0 1.8 1.2 5.0 3.8 5.8 4.6 1.3 (5.7) (2.4) (6.7) (7.2) (1.5) 0.0 0.9 1.4 1.7

Cash Position

   
   Core Crown residual cash 0.3 0.2 0.9 0.4 2.0 1.8 1.7 1.1 (4.6) (4.7) (6.7) (5.1) (4.5) (3.0) (1.9) (1.3) (1.1)

Debt

   
   Gross debt1 30.8 28.5 27.0 24.6 22.8 20.8 17.7 16.9 23.3 28.0 36.1 38.2 37.1 38.7 36.0 36.2 37.0
   Gross debt incl RB settlement cash and bank bills 30.8 28.5 27.0 24.6 22.8 22.0 21.2 20.3 27.4 30.8 38.5 40.4 39.6 41.0 38.3 38.4 39.1
   Net core Crown debt (incl NZS Fund)2 20.6 19.3 16.7 13.6 8.6 3.9 0.9 (1.4) 3.0 6.6 11.9 16.1 18.7 19.9 19.9 19.5 19.0
   Net core Crown debt2 20.6 19.7 18.1 16.3 12.8 9.9 7.7 5.5 9.2 14.0 20.0 24.3 27.8 29.2 29.5 29.5 29.3

Net Worth

   
   Total Crown net worth 12.8 17.7 20.6 27.1 34.9 51.4 55.9 56.8 53.5 49.7 40.3 28.7 26.9 26.1 26.5 27.6 28.3
   Total net worth attributable to the Crown 12.8 17.7 20.6 27.0 34.8 51.2 55.7 56.5 53.3 49.4 40.2 28.5 26.1 24.7 24.6 25.1 25.9
  1. Excludes Reserve Bank settlement cash and bank bills
  2. Excludes advances

 

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