Source: Statistics New Zealand
Government finance statistics (general government): Year ended June 2025 – information release
27 November 2025
Government finance statistics (general government) gives an economic representation of New Zealand’s central and local government financial activity.
Key facts
In the year ended June 2025:
- general government net operating deficit was $5.3 billion, following a $2.0 billion deficit in the year ended June 2024
- total operating income increased by 1.5 percent compared with the year end June 2024, led by increases in tax revenue and sales of goods and services
- total operating expenses increased by 3.5 percent, driven by increases in social benefits (up $5.1 billion) and interest expense (up $1.1 billion)
- net acquisition of non-financial assets rose by $448.0 million from June 2024 to $10.3 billion in June 2025
- net borrowing was $15.6 billion
- net worth fell by $3.8 billion to $465.0 billion, following a $26.5 billion increase in 2024
- net debt rose $25.1 billion to $115.2 billion in the year ended June 2025.
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