New Zealand: Staff Report for the 1999 Article IV Consultation

Author: International Monetary Fund

This 1999 Article IV Consultation highlights that economic performance of New Zealand improved during the 1990s. Inflation averaged about 2 percent, compared with nearly 10 percent in the 1980s, while economic growth also picked up. Despite these improvements, the current account deficit remains high, increasing the economy's vulnerability to external shocks. Although growth performance has improved, most estimates suggest that the potential growth rate remains too low to close the per capita income gap between New Zealand and the advanced-economy average.

Volume/Issue: Volume 1999 Issue 103

Publication date: September 1999

ISBN: 9781451830156

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Topics covered in this book

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Business and Economics , Banks and Banking , Exports and Imports , Labor , Public Finance , ISCR , CR , survey of expectation , monetary policy , basis point , deficit , economy , projects growth , output gap , GDP ratio , IMF staff estimate , Current account deficits , Exchange rates , Asia and Pacific , Global

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Summary

This 1999 Article IV Consultation highlights that economic performance of New Zealand improved during the 1990s. Inflation averaged about 2 percent, compared with nearly 10 percent in the 1980s, while economic growth also picked up. Despite these improvements, the current account deficit remains high, increasing the economy’s vulnerability to external shocks. Although growth performance has improved, most estimates suggest that the potential growth rate remains too low to close the per capita income gap between New Zealand and the advanced-economy average.