Annual BoP deficit at 13 year low - Cullen
Thursday, 27 June 2002, 12:04 am
Press Release: New Zealand Government
27 June 2002
Finance Minister Michael Cullen welcomed the
latest current account figures showing the lowest annual
deficit as a proportion of GDP since June, 1989 or for 13
years.
He was responding to the March balance of payments
showing a deficit for the March year of $2.67 million, or
2.2 percent of GDP, and a seasonally adjusted deficit for
the quarter of $466 million.
“Both results are strong by
the standards of recent New Zealand history and are
significantly stronger than the markets were expecting,” Dr
Cullen said.
Ends
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