New Zealand recorded a government budget deficit of 9306 NZD Million in 2025. Government Budget Value in New Zealand averaged -1238.81 NZD Million from 1972 until 2025, reaching an all time high of 7429.00 NZD Million in 2019 and a record low of -23057.00 NZD Million in 2020. source: New Zealand Treasury

Related	Last	Previous	Unit	Reference
Fiscal Expenditure	183502.00	180061.00	NZD Million	Dec 2025
Budget Day 2022	-2.10	-2.10	percent of GDP	Dec 2025
Government Budget Value	-9306.00	-12854.00	NZD Million	Dec 2025
Government Debt	182171.00	175464.00	NZD Million	Dec 2025
Government Debt to GDP	41.80	45.20	percent of GDP	Dec 2025
Government Revenues	169811.00	167347.00	NZD Million	Dec 2025

New Zealand Government Budget Value

The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. In New Zealand, the government budget refers to the Total Crown operating balance before gains and losses (OBEGAL).