New Zealand Budget Deficit Narrows Ahead of Election

The New Zealand government is heading into November's election with a slightly improved budget forecast.

A new update from the Treasury Department shows that the nation's operating budget deficit will be NZ$6.8 billion ($4 billion) for the year through June 2027, down from an estimated NZ$11.4 billion in May.

This reduction is attributed to a recovering economy and higher inflation, which have boosted revenue and narrowed the budget gap.