Govt operating deficit smaller than forecast | The National Business Review

According to a recent media report Govt operating deficit smaller than forecast | The National Business Review the government's books are in better shape than expected.  However, the main reason is that budgeted expenses did not arise when they were expected.  They will however arise later on so there is no room for complacency in terms of the government's goal of achieveing a budget surplus in 2014-15.  Given the high level of private debt its important that the government finances are brought back into shape sooner rather than later.  The challenge is how to balance a tight fiscal policy against keeping the emerging economic growth rates going.