New Zealand Embassy Tokyo, Japan

IMF backs NZ’s economic, fiscal policy approach

The International Monetary Fund has released its conclusions from its most recent New Zealand mission. The IMF’s statement highlights a number of positive features of the New Zealand economy: Growth prospects have improved for the near term. Business and consumer confidence is strong and commodity prices for key exports remain high. The government’s plan to return the budget to surplus is on track. The macroeconomic framework remains sound and provides policy space to respond to adverse shocks. The flexible exchange rate continues to serve as an important buffer. Growth is now forecast to increase to 3.5% in 2014.

New Zealand Finance Minister Bill English has welcomed the IMF report. “It’s encouraging that the IMF has again noted that our macro-economic framework remains sound and provides policy space to respond to adverse shocks,” Mr English said.

“In particular, it concludes the Government’s focus on returning to surplus next year will help to preserve its favourable standing with external creditors against New Zealand’s background of relatively high net foreign liabilities”, Mr English added.

“I also agree with the IMF that New Zealand faces some risks, including globally from any downturn in the fortunes of China and the rest of Asia, and on the domestic front from issues around housing affordability.

“So this latest report on New Zealand confirms we remain on the right track to build a faster-growing economy and to manage the global and domestic risks that might come our way,” Mr English says. “That’s important if we are to support more jobs and higher incomes for New Zealand families.”

Full Beehive release: http://www.beehive.govt.nz/release/imf-backs-nz%E2%80%99s-economic-fiscal-policy-approach

IMF Consultation Concluding Statement: http://www.imf.org/external/np/ms/2014/033114.htm

Of interest

Elections for the United Nations Security Council

Elections for the United Nations Security Council

New Zealand is a candidate for election to the UNSC for the two-year term 2015-16. Read more

United Nations Handbook 2013-14

United Nations Handbook
2013-14

The UN
Handbook is a comprehensive guide to the UN system and how it works.  Read more

Registering your overseas travel made easier

Registering your overseas travel made easier

New Zealanders travelling or living overseas, registering your travel online now made easier. Read more

Sister cities

Sister cities

Sister city and friendly city links. Read more

The official travel New Zealand website

The official travel New Zealand website

The hardest part of planning your holiday will be deciding which to do first! Read more

Registering your overseas travel made easier

New Zealand General Election 2014

The New Zealand General Election will be held on Saturday 20 September 2014. Read more