Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Financial report shows agriculture is well on track

17 December 2013

Financial report shows agriculture is well on track

Federated Farmers is pleased to see the Government’s half year Economic and Fiscal Update report showing a faster growing economy, with the agriculture industry being well on its way to doubling its exports by 2025.

“We have long advocated for economic restraint, and it is great to see the $86 million surplus forecast for 2014/15 is up ever so slightly on the surplus forecast in May,” says Bruce Wills, Federated Farmers President.

“Agriculture has had a great start, with the tradable sector growing 11.1 percent since 2009 compared with non-tradeables up 6.6 percent, however resource pressures are growing and next year we will likely see a tightening of monetary policy to dampen inflation. Farmers and exporters will need the Government to keep spending and debt under control in order to take the pressure off interest rates and the exchange rate.

“Looking further afield, surpluses are looking healthier, with a $5.6 billion projected surplus for 2017/18. These growing surpluses will put the Government in a better position to reduce its debt, which is forecast to peak at $64.5 billion in 2015/16. This had risen significantly as the Government worked to "take the edge off the recession". Paying down debt remains an important focus as it improves the resilience of the economy and our ability to absorb future shocks.

“Leading into an election year, the Government and opposition parties will need to do their bit by committing to responsible fiscal policy, which does not work against monetary policy. The last thing we need is for politicians to spend the surplus before it arrives.

“This is the kind of news you want after a challenging few years, with the Global Financial Crisis and the Canterbury Earthquakes. Federated Farmers continues to support the Government in its efforts to keep spending under control and its aim to rebalance the economy towards sectors that compete internationally,” concluded Mr Wills.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Oil: 2017 Block Offer Petroleum Tender Launched

New Zealand is well-placed to take advantage of the economic benefits of oil and gas exploration, Energy and Resources Minister Judith Collins announced today at the launch of the 2017 Block Offer petroleum tender. More>>

ALSO:

OECD And Zero Carbon Reports: Environmental Pressures Rising In New Zealand

New Zealanders enjoy a high environmental quality of life and access to pristine wilderness. However, New Zealand’s growth model, based largely on exploiting natural resources, is starting to show its environmental limits with increasing greenhouse gas emissions and water pollution ... More>>

ALSO:

Statistics: Record Net Annual Migration Levels Continue

In the February 2017 year, 71,300 more migrants arrived in New Zealand than left, Stats NZ said today. This equalled the previous annual record set in January 2017. More>>

South America Trade: New Zealand-Argentina Agricultural Agreement Signed

Primary Industries Minister Nathan Guy has signed an Agricultural Cooperation Arrangement with Argentina today, aimed at building closer relationships between the two countries. More>>

ALSO:

Statistics: Economic Growth Eases In December Quarter

GDP rose 0.4 percent in the December 2016 quarter, following an increase of 0.8 percent (revised) in the September 2016 quarter. “Growth in service industries was partly offset by weaker activity in primary industries also flowing through into manufacturing.” More>>

ALSO:

Trapping: Predator Free 2050 Holiday Parks Partnership

Conservation Minister Maggie Barry has welcomed a new predator-free initiative signed today which includes trapping in and around hundreds of holiday parks. More>>

ALSO:

Sure As Eggs: Commerce Commission Should Look Into 'Free Range' Egg Labelling

Green Party MP Mojo Mathers has written to the Commerce Commission asking it to inquire into the alleged mislabelling of eggs laid in cages as “free-range”, the Green Party said today. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news