If we were to believe several commentators on New Zealand media, the National Party and Act, we could be forgiven for thinking our NZ economy is tanking.
What they say and what is the reality are poles apart. I’ve even heard the word bankruptcy being bandied about. It’s not true.
I prefer to believe the experts who are happy with our economic performance.
“Global ratings agency Standard & Poor’s (S&P) has affirmed New Zealand’s AAA local currency and AA+ foreign currency credit rating, saying the outlook for the country is stable.” Our debt is modest compared to our highly rated peers and our small deficit is expected to ease due to the end of Covid spending. The inflation rate is expected to gradually ease and we have low unemployment.
We’ve been through some globally hard times through Covid, war and weather events, and Labour has been an effective financial manager.
