What were the reasons, if any, for the difference of approximately $162 million between forecast and actual aid expenditure in the 2024/25 financial year?

Answer

The 2024/25 financial year was the first year of the 2024-2027 triennium and the expenditure equates to 31% of the total 2024-27 appropriation. The variance can be attributed to a range of factors, including a review and subsequent changes to the focus of the Programme to ensure greater alignment with the Government’s Foreign Policy Reset, and delays arising from partner country constraints (e.g. elections, natural disaster recovery). The 2024/25 underspend was carried forward to the remaining two years of the triennium. The full triennium budget (including the NZ$162 million) is expected to be utilised by 30 June 2027.