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Improvement in underlying current account welcomed
22 September 2000 Media Statement
Improvement in
underlying current account balance welcomed
Associate
Minister of Finance, Hon Trevor Mallard, welcomed the
improvement in the underlying trend in the current account
balance shown in data released by Statistics New Zealand
today.
Statistics New Zealand noted that the trend estimate for the current account balance has recorded a sharp decrease in the deficit over the last two quarters following a period of increasing deficits. The main contributor to the decrease in the current account deficit has been a change in the goods and services balance trend from a deficit to a surplus.
"While there is still
some way to go, the improvement in the underlying current
account balance is positive news for New Zealand with goods
exports and tourism major contributors", Trevor Mallard
said.
ENDS
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