The Doomsayers' Lament: the State of the NZ Economy

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A number of commentators would have us believe our economy is heading for the rocks. We're told we have a government that promises more than it can fulfil, a bunch of dreamy-eyed idealists, who are dragging us further into debt. 

Yet this is not the picture shown in IMF projections where our growth exceeds that of most countries or in the World Bank naming us "Number 1 in the world" for our business friendly environment.  "Congratulations,New Zealand!" writes Taylor Kee in Money Morning, "You’re the number one country in the world for exemplifying a business-friendly environment."

If you still have doubts, read Finance Minister Grant Robinson's pre-budget speech  at yesterday's Craigs Investors Conference.  

Despite a slowing world economy, Brexit and the US-China trade war, we are economically well positioned as the IMF projections show. We have low unemployment, a budget surplus and low levels of debt.  The Minister goes on to discuss priorities and new orienations needed, and hints at what next week's Wellbeing Budget is likely to contain.

Given a choice, I'm more inclined to believe the IMF, World Bank and the Minister than the Opposition and its hangers-on in the media. 

Criticise by all means —that is a function of an Opposition— but  also be positive and  give credit when credit is due.

-- ACW

 

 

http://www.scoop.co.nz/stories/PA1905/S00228/pre-budget-speech-to-the-craigs-investors-conference.htm