New Zealand: Staff Report for the 1999 Article IV Consultation

September 15, 1999

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.

Subject: Balance of payments, Current account deficits, Exchange rates, Expenditure, External debt, Fiscal policy, Foreign exchange

Keywords: Asia and Pacific, basis point, CR, Current account deficits, deficit, economy, Exchange rates, GDP ratio, Global, IMF staff estimate, ISCR, monetary policy, output gap, projects growth, survey of expectation

Pages:
43
Volume:
1999
DOI:
https://doi.org/10.5089/9781451830156.002
Issue:
103
Series:
Country Report No. 1999/103
Stock No:
1NZLEA0011999
ISBN:
9781451830156
ISSN:
1934-7685

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Notes

Included with the Staff Report is the text of Public Information Notice No. 99/89--IMF Concludes Article IV Consultation with New Zealand.

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