The government's finances are continuing to fare better than expectations despite the ongoing Covid-19 pandemic.
Official figures show a deficit of $9.4 billion for the 10 months ended April, $3.2b less than forecast in May's budget.
The tax take for the 10 months ended April was 2.1 percent above forecast, at $87.9b, largely driven by higher corporate and income tax payments, although GST revenue fell. the Treasury said.
Expenses were $800 million below forecast, due to delays in spending from government departments.
Finance Minister Grant Robertson said New Zealand was in a strong position despite the global uncertainties.
"Our economy has come through the Covid shock better than almost anywhere else.
"The economy is bigger than before the pandemic, unemployment is at a record low and exports are growing. The recovery is gaining momentum and the easing of restrictions and opening up to skilled workers and tourists will help business and the economy rebuild," he said.
Net debt under the new measure is at 18 percent of the value of the economy compared to the forecast 16.7 percent.
Under the old measure, net core crown debt is at 37.5 percent, close to expectations.
"As I noted when we announced the new debt indicator, the inclusion of a wide range of government assets such as the New Zealand Superannuation Fund is likely to add more volatility to the level of net debt in the near term. In this case, the difference is mainly due to market conditions affecting the NZ Super Fund's investment portfolio," Robertson said.
