Abstracts » Business, international

Greener pastures

Article Abstract:

New Zealand's economy is showing signs of improvement and some analysts believe that the recession may have bottomed out. In 1991, the country's trade surplus increased to NZ$2.1 billion. Despite a 5.5% depreciation in currency, merchandise-export receipts managed to increase by 5.3% in the second half of 1991. Non-automotive retail sales for the 4th qtr of 1991 increased by 5.2% from the previous quarter. The country's current account balance for FY 1992 is expected to post its first surplus in 17 years, due mainly to reduced imports.

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Moment of truth: New Zealand's anti-inflation strategy turns painful

Article Abstract:

New Zealand's innovative experiment in fighting inflation via central-bank independence faces its first test, as widespread criticism greeted two tightening efforts in Aug 1995. Underlying inflations in the year to June reached 2.2%, above the 2% upper limit beyond which the bank's governor can be fired. While businessmen were unhappy with the moves, which raised home-mortgage rates to 11% after a brief stay at 10.5%, the banking community was remarkably divided. Few, however, would change the system itself.

Inflation (Finance), Inflation (Economics)

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Better, thanks

Article Abstract:

The Organization for Economic Cooperation and Development (OECD) expects New Zealand to post GDP growth of 2.5% in 1993 and 1994. However, the OECD remains worried over the country's budget deficit, which is projected at NZ$3.2 billion for FY 1993 and NZ$2.9 billion for the next fiscal year. The country's foreign debt, NZ$64.2 billion as of Sep 1992, is also seen as a serious obstacle to growth.

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