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WELLINGTON Uomo Nike Air Max 98 UK Bianche Oro Scontate , April 10 (Xinhua) -- The New Zealand government admitted Friday that it might fail to meet its self-imposed target of an operating surplus in its accounts this financial year.


The Treasury's financial statements for the eight months to the end of February showed a deficit before gains and losses of 269 million NZ dollars (203.89 million U.S. dollars).


The accounts followed a slight surplus of 77 million NZ dollars (58.35 million U.S. dollars) in the seven months to the end of January in statements published in March.


Revenue from some tax sources had remained higher than forecast in February, but not as far ahead as in January, said Finance Minister Bill English.


The goods and services sales tax saw a significant shortfall in part due to very low inflation leading to lower-than-expected spending on consumption, English said in a statement.


Government spending in the eight-month period was lower than forecast Uomo Nike Air Max 98 Gym Rosse Scontate , and taken over the year, core expenditure for the 2014- 2015 financial year was forecast to be 4.1 billion NZ dollars (3.1 billion U.S. dollars) lower than forecast when the government first set the surplus target in 2011.


"We're continuing to manage the books carefully but lower inflation, while good for consumers, is making it less likely that the final accounts in October will show a surplus for the whole year Uomo Nike Air Max 98 QS Thunder Blu Scontate ," English said.


Next month's budget would produce new forecasts that he expected would take into account further reductions in the inflation outlook and show how far the government deficit had come since it hit 18.4 billion NZ dollars (13.94 billion U.S. dollars) in the 2010-2011 financial year.


The main opposition Labour Party said the accounts showed something seriously wrong with the government's economic management.


"The reason the government has failed to reach surplus is they haven't been able to get the productive economy humming to generate revenue," Labour finance spokesperson Grant Robertson said in a statement.