KEY POINTS:
The Government's operating financial surplus for the four months to Octover 31 was $2.69 billion, $397 million or 17.3 per cent above forecast due to higher investment gains and exchange rate movements, the Treasury said today.
However, the operating balance excluding gains and losses (Obegal), which strips out unrealised investment gains, was $1.723 billion, $167 million lower than forecast.
Net government debt stood at $3.423 billion, which was 10.5
per cent below forecast because of a rise in the value of assets and higher cash surpluses.
The Government's net cash position, the difference between a ll income and spending -- operational and capital -- was a surplus of $67m compared with a forecast deficit of $282m.
The Treasury forecast an operating surplus of $6.43 billion for the fiscal year to June 30, 2008 in the government's May budget.
- REUTERS
