INDEPENDENT NEWS

IMF confirms NZ economy slowing

Published: Wed 26 Jun 2019 12:58 PM
Paul Goldsmith - Finance
26 June 2019
The International Monetary Fund (IMF) has confirmed what New Zealand businesses have been feeling for months, the New Zealand economy has lost its momentum, National’s Finance spokesperson Paul Goldsmith says.
“The IMF reflects what the Reserve Bank has already stated, there has been a sharp decline in the New Zealand economy under this Government.
“Despite what Finance Minister Grant Robertson has been saying, the decline is not primarily due to global conditions. Our terms of trade are at historical highs and exports are rising.
“Under this Government growth has decreased from 4 per cent down to 2.5 per cent. Our per-person growth is the seventh worst in the OECD, and jobs are in decline.
“Business confidence is at record lows. This Government needs to wake up and realise what it’s doing to our economy.
“A strong economy is what pays for investment in health, education and infrastructure. This Government needs to stop taking economic growth for granted and dial back its anti-growth agenda, while getting on with delivering the infrastructure this country needs.”
ends

Next in New Zealand politics

Trades Hall bombing case re-opened, evidence released
By: RNZ
Govt targets fewer deaths on the road
By: New Zealand Government
Teachers unions to take legal action against Novopay
By: RNZ
Consensus reached on reducing agricultural emissions
By: New Zealand Government
Gordon Campbell on what’s wrong with Wellington
By: Gordon Campbell
$1m Compensation To Christchurch Gun Owners In First Event
By: RNZ
Youth Parliament 2019 Event Kicks Off in the Capital
By: New Zealand Government
Foreign Minister to visit United States of America
By: New Zealand Government
Gordon Campbell on the Aussie banks’ latest fee hike excuse
By: Gordon Campbell
Safer roads mean investment, not slowing down
By: New Zealand National Party
MTA welcome focus on vehicle safety
By: Motor Trade Association
Safer speeds for Northland roads
By: New Zealand Transport Agency
Better Driver Training must be part of Road to Zero
By: Greg Murphy Racing
Long delay in pay increase for teachers unacceptable
By: NZEI
Greater role for gas in electrification of transport
By: BusinessDesk
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media