OECD Economic Surveys: New Zealand 2009

Business & Finance, Economics
Cover of the book OECD Economic Surveys: New Zealand 2009 by Collective, OECD
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Author: Collective ISBN: 9789264054288
Publisher: OECD Publication: April 15, 2009
Imprint: OECD Language: English
Author: Collective
ISBN: 9789264054288
Publisher: OECD
Publication: April 15, 2009
Imprint: OECD
Language: English

The global crisis is hitting New Zealand at a time when difficult domestic adjustment is underway. Its economy is among the most indebted in the OECD. Falling asset prices and a slump in credit demand mean that a process of debt reduction has started. Nevertheless persistent, large current-account deficits and a high external debt render the economy especially vulnerable. In this report, OECD projects that the economy will remain in recession through 2009, and recover only hesitantly in 2010. The report includes coverage of the macroeconomic situation, structural policies, and a detailed examination of health care reform.

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The global crisis is hitting New Zealand at a time when difficult domestic adjustment is underway. Its economy is among the most indebted in the OECD. Falling asset prices and a slump in credit demand mean that a process of debt reduction has started. Nevertheless persistent, large current-account deficits and a high external debt render the economy especially vulnerable. In this report, OECD projects that the economy will remain in recession through 2009, and recover only hesitantly in 2010. The report includes coverage of the macroeconomic situation, structural policies, and a detailed examination of health care reform.

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