Originally Posted by
Blue Skies
I agree, these people who say the economy is 'stuffed' Imo have no sense of perspective.
Despite the Global Pandemic & 2 catastrophic cyclones, 2 of the only 3 'National States of Emergency' this country has ever had, economists note we have one of the lowest Govt Debts in the world amongst Developed nations.
Our Debt to GDP Ratio though peaking, is no higher (just) than in 2012 following the GFC.
Real Economists from global Credit Agencies give NZ very solid credit ratings due to the way the economy has been managed through the pandemic years.
There was huge support through the pandemic. Businesses were kept afloat & employees in jobs through the pandemic & the domestic economy actually took off.
It's govt's job to smooth out sharp impacts of shocks to the economy, using surpluses & deficits.
Unemployment is at historically low levels.
Inflation trending down.
A number of FTA's were negotiated &/or signed off during the Labour govt. (5 in total from memory. )
Not denying there's huge problems & challenges ahead but let's give some credit where credits due.
Just like after the GFC, the economy is very slowly recovering in a fragile global environment.
It's what this govt does next which is important.
I noted an economist saying recently Nicola Willis intends changing our Nett Debt to GDP ratio (similar to other nations) back to the old Gross Debt to GDP ratio for purely political reasons as will help her dampen spending expectations.
Just about every economist prior to the election said National's numbers don't add up, we could all see it then, we're starting to see the impact now & now some posters here are slamming Grant Robertson !
..Here we go again. And Nicola will do anything not to eat pie, stripping back funding every which where, Tobacco is all good again ehh for ex. And luxon has been taking lessons from Teflon Key being as slippery as poss with no portfolio ehh.
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