Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


IMF positive about fiscal and economic performance

5 May 2006

IMF positive about fiscal and economic performance

Finance Minister Michael Cullen today welcomed the latest report on New Zealand by the International Monetary Fund saying it was positive about the underlying performance of the economy and about the government's economic management.

"The IMF notes that the New Zealand economy is slowing after a period of strong growth, but like most other forecasters it sees this as temporary with an export led recovery getting underway in 2007.

"In fact it states that the chances of a hard landing have diminished and recognises that strong household income growth and the government's Working for Families package will help mitigate any downside risks that may remain.

"The IMF states that the "medium-term orientation of fiscal policy continues to serve New Zealand well" and that it has kept public debt low and on a declining path.

"Today's Crown financial statements confirming a positive net financial asset position will further reinforce the IMF's views.

"The fund also supports the government's intention to ensure "value for money" in government spending.

"I am pleased the IMF endorses the government's view that although New Zealand's fiscal position is strong, there are limits on the scope for a big spend-up or tax give away and that the prudence and discipline the government has been exercising should be maintained," Dr Cullen said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Decision Day: Peters Chooses Labour

Winston Peters says he will form a Government in coalition with Labour and the Greens giving confidence and supply.

Peters said he had been offered the position of Deputy Prime Minister and a number of other ministerial posts would go to his colleagues

He said economic and monetary policy changes were needed to face a coming economic downturn.>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election