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

15,000 fewer people dependent on benefits

17 Apr 2014 News
New Zealand Government 15,000 fewer people dependent on benefits Social Development Minister Paula Bennett says the latest benefit ... more

Govt to establish Food Safety Science & Research Centre

16 Apr 2014 News
  Science and Innovation Minister Steven Joyce and Food Safety Minister Nikki Kaye today announced that expressions of interest... more

Business

Air NZ says claims withdrawn as other airlines settle in Oz

17 Apr 2014 Business News
Article - BusinessDesk   Air New Zealand says claims withdrawn as other airlines settle over cargo cartel, seeks costs April 17 ... more

Genesis Energy soars on debut, other gen-taliers rise

17 Apr 2014 Business News By Suze Metherell
  Genesis Energy soars on debut, leading fellow energy companies higher April 17 (BusinessDesk) – Shares in the partially... more

Living

The Taite Music Prize: IMNZ announces this years winner

17 Apr 2014 Entertainment
The winner of the fourth annual Taite Music Prize 2013 is Lorde for her album ‘Pure Heroine’ released on Universal Music... more

3 Mile Limit Movie Continues to Win Awards in the U.S

15 Apr 2014 Lifestyle
New Zealand movie ‘3 Mile Limit’ has won Best Feature Film at both the North Hollywood and Charleston International Film... more

Property

NZ house values rise at slowest annual pace in 6 months in March, QV says

7 Apr 2014 Property
April 7 (BusinessDesk) – New Zealand property values increased at the slowest annual pace in six months in March as lower... more

Auckland landlords lead in capital gains

28 Mar 2014 Property
Three-bedroom houses in Glen Innes giving an annual capital gain of 18.9%, followed by New Windsor. Auckland landlords are making... more

Migration

New working holiday agreement between New Zealand and Croatia launched

28 Mar 2014 Migration
Citizens of Croatia aged between 18 and 30 will soon be eligible to apply for a New Zealand Working Holiday Visa, giving them the... more

New Zealand immigration hits ten year high

28 Mar 2014 Migration
New statistics have shown net migration to New Zealand to be at a 10 year high, with China becoming the largest source of new... more

Travel

Chinese company to build $200M hotel on Auckland waterfront

16 Apr 2014 Travel & Tourism By Suze Metherell
  Company linked to one of China’s richest women to spend $200 mln on Auckland hotel April 16 (BusinessDesk) – Fu... more

SmartGate opens to arriving UK & US travellers

3 Apr 2014 Travel & Tourism
Customs Minister Maurice Williamson today announced SmartGate is now open to United Kingdom and American travellers on arrival. The... more

Sport

Dan Carter: All Blacks's goal is back-to-back World Cups

17 Apr 2014 Rugby By Oliver Brown
New Zealand No 10 is loving his sabbatical, including a trip to the Masters, however his only motive is to return fit and fresh for... more

Seeds March to Quarters at Skycity NZ Badminton Open

17 Apr 2014 Sport
TOP SEEDS CONTINUE MARCH TO QUARTER FINALS AT SKYCITY NZ BADMINTON OPEN Top seeds dominated in this morning’s 3rd round... more

Columns

Mind-set, meaning and moderation in optimal health

20 Apr 2014 Column By Tricia Alach
The holistic helper's guide to Wellness: Part Two   To misquote Aristotle ‘We are what we repeatedly do, wellness then is... more

Gordon Campbell: drone strikes & Judith Collins‘ last stand

17 Apr 2014 Opinion
Reportedly, US drone operators refer to their kills as "bug splat” - mainly because when the carnage is viewed on their... more

Kiwi Success

BNZ names Anthony Healy as new CEO, replacing Thorburn

17 Apr 2014 Appointments
April 17 (BusinessDesk) – Bank of New Zealand, the local unit of Australia’s third-biggest mortgage lender, named the... more

Kiwi alpinist is finalist for prestigious award

26 Mar 2014 People
NZ Alpine Club Kiwi alpinist is finalist for prestigious mountaineering award New Zealand Alpine Club President John Cocks has today... more

Recruitment

Growth seen further lifting average wage by $7,500

15 Apr 2014 Recruitment
  The average annual wage is expected to increase by $7,500 to around $62,200 a year by 2018 if New Zealand achieves its ... more

NZ employment confidence lifts in 1st-qtr

31 Mar 2014 Recruitment
Article - BusinessDesk   NZ employment confidence lifts in 1st-qtr, current job opportunities seen less negative March 31 ... more