IMF endorses New Zealand policy direction   8 Jun 2012

The International Monetary Fund’s 2012 staff report on New Zealand confirms its support for the Government’s economic plan and particularly its focus on getting back to surplus and increasing national saving, Finance Minister Bill English says.

 

“The IMF endorses our approach to getting back to surplus and the rationale behind it,” he says.

 

“It notes that our deficit reduction path strikes a balance between the need to contain both public and private debt increases, while limiting any adverse impact on economic growth during the recovery.

 

“It also notes that getting back to fiscal surplus in 2014/15 should put New Zealand in a better position to deal with future shocks and take pressure off monetary policy and the exchange rate.”

 

In its staff report on New Zealand, issued today, the IMF shares the Government’s view that risks to the global economy could impact on New Zealand.

 

It also notes that New Zealand remains exposed through its high external liabilities.

 

“We are making progress and, compared to a lot of other countries, New Zealand is in reasonably good shape,” Mr English says.

 

“But it’s important that we remain focused on becoming more competitive and productive, and giving businesses the confidence to invest and grow, because that is how we will create more jobs and higher incomes.

 

“This cannot happen through fast-rising government spending and debt, as it has in the past.”

(New Zealand Government)


Add a comment

Bookmark and Share

Your Comments:

left by 8 Jun 2012

Important clarity relevant to IMF coming from the Minister - NZers holding sway on non producing spending and shoring up savings along that line.

News

DOC & Botanic Gardens unite to fight diseases

10 May 2017 Environment
10 May 2017 The Department of Conservation and Botanic Gardens in New Zealand are joining forces to protect endangered native plant... more

Kapa haka and Te Reo may help prevent dementia

10 May 2017 Health
Nicky Wagner 10 MAY, 2017 Kapa haka and Te Reo may help prevent dementia Associate Health Minister Nicky Wagner... more

Business

Budget 2017: $74.6m to further grow business R&D

10 May 2017 Business News
10 May 2017 Science and Innovation Minister Paul Goldsmith has today announced an additional $74.6 million in funding through the... more

McCully to Viet Nam to further Vietnamese partnership

25 Apr 2017 Business News
23 April 2017 Foreign Minister Murray McCully will travel to Ha Noi today to meet Vietnamese Deputy Prime Minister and Foreign... more

Living

Spirit of “Mateship” prominent at London ANZAC commemorations

25 Apr 2017 ANZAC By Charlotte Everett
All photos copyright Peter Livingstone Photography. Lead image: HRH The Duke of York (far right), with the Hon Alexander Downer (far... more

3rd Position, Louis Vuitton America’s Cup World Series

21 Nov 2016 Lifestyle
Emirates Team New Zealand EMIRATES TEAM NEW ZEALAND CLOSES IN 3rd POSITION THE LOUIS VUITTON AMERICA’S CUP WORLD SERIES more

Property

New Zealand Housing Affordability Measure released

10 May 2017 Property
10 May 2017 The Ministry of Business, Innovation and Employment’s (MBIE) new Housing Affordability Measure will allow the market... more

NZ house prices gain 11% in October

14 Nov 2016 Property
Article - BusinessDesk Monday 14 November 2016 10:28 AM NZ house prices gain 11% in October, driven by sales of higher value homes By... more

Migration

Suspension of decision making authority

25 Apr 2017 Migration
24 April 2017Immigration Minister Michael Woodhouse is taking steps to improve Immigration New Zealand’s decision making... more

Recognised Seasonal Employers employ more Kiwis

8 Feb 2017 Migration
7 Feb 2017 Immigration Minister Michael Woodhouse welcomes a report showing the vast majority of employers who take on seasonal... more

Travel

Tourism spending continues rise in 2017

10 May 2017 Travel & Tourism
27 April 2017 Tourism spending by both international and domestic visitors continues to grow strongly in 2017, Acting Tourism Minister... more

New berth gives Christchurch cruise choices

10 May 2017 Travel & Tourism
1 May 2017 Plans for a new multi-million dollar cruise ship berth released today by the Lyttelton Port Company will open up new... more

Sport

All Blacks drawn with South Africa - RWC2019

10 May 2017 Rugby
The All Blacks have been drawn in Pool B at Rugby World Cup 2019 alongside South Africa, Italy and two yet to be determined qualifiers... more

World Masters Games 2017 commemorates Anzac Day

25 Apr 2017 Sport
25 April 2017An Anzac Day service at Queens Wharf and a star-studded New Zealand versus Australia exhibition basketball match will be... more

Columns

Gordon Campbell on the Gareth Morgan crusade

11 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the Gareth Morgan crusade First published on Werewolf more

Gordon Campbell on the US election outcome

10 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the US election outcome more

Kiwi Success

Spencer to be Acting Governor of Reserve Bank

8 Feb 2017 Appointments
7 Feb 2017 Finance Minister Steven Joyce will appoint current Deputy Reserve Bank Governor Grant Spencer as the Acting Governor of... more

Temporary Chairs appointed to Canterbury and South Canterbury DHB

1 Feb 2017 Appointments
30 January 2017 Health Minister Jonathan Coleman has today appointed temporary Chairs to the boards of Canterbury and South... more

Recruitment

New employment resource for young people

1 Mar 2017 Recruitment
28 Feb 2017 Tertiary Education, Skills and Employment Minister Paul Goldsmith and Associate Education Minister Louise Upston have... more

Record number of people in employment

1 Feb 2017 Recruitment
1 Feb 2017 Tertiary Education, Skills and Employment Minister Paul Goldsmith has welcomed the record number of New Zealanders now in... more

s