Scoop has an Ethical Paywall
Caution in Positive Balance of Payments Result
Hon Dr Michael Cullen
Minister of Finance
25 March 2004 Media Statement
Caution in Positive Balance of Payments Result
The narrowing of the balance of payments deficit in the December quarter suggests the export sector is showing some resilience in the face of the strong New Zealand dollar, Finance Minister Michael Cullen said today.
He was commenting on the latest BOP data showing a seasonally adjusted reduction in the current account deficit of $396 million.
"While this result is better than the markets were expecting and reflects an improvement in export volumes which is positive news for the economy, the evidence still points to a deterioration in our external position over the immediate term,” Dr Cullen said.
ENDS
Advertisement - scroll to continue reading
Gordon Campbell: Gordon Campbell On The Folly Of Making Apologies In A Social Vacuum.
Wai Ako Books: Best-Selling Author & Lawyer Creates Free Easy Tool To Help Kiwis Oppose Controversial Treaty Bill
Asians Supporting Tino Rangatiratanga: Asian Communities From Across Aotearoa Join Hīkoi Mō Te Tiriti
Cooper Legal: Censorship Is Alive And Well In New Zealand
NZ Government: NZ Signs Trade Deal With Costa Rica, Iceland And Switzerland
Forest And Bird: Modernisation Of Conservation System Must Focus On Improving Conservation
NZCTU: Uniformed Defence Force Should Not Be Used As Strike Breakers
