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The interim Financial Statements of the Government of New Zealand for the eight months ended 28 February 2021 (the financial statements) were released by the Treasury today. The February 2021 Interim Financial Statements of the Government show that the position and performance of the Crown continue to be stronger than forecast in the Half Year Economic and Fiscal Update (HYEFU). The results show the impacts of the COVID-19 pandemic are still visible however, with an operating balance before gains and losses (OBEGAL) deficit of $4.5 billion and continued higher levels of net core Crown debt of $103.3 billion (32.6% of GDP). Core Crown tax revenue for the

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