Government’s put out this press release:
“Finance Minister Bill English has welcomed news that the Budget operating deficit of $7.2 billion for the 11 months to May 31 is lower than the forecast $8.4 billion…
Most of the $1.2 billion variance was due to higher-than-forecast investment gains by the NZ Superannuation Fund and ACC”
Yup, the NZSF made $1.2 billion in April and May. About 10% in two months. Sure glad they cut those contributions. Don’t want to keep on making huge profits. Lucky to have such financial geniuses running the country.
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