The Economic Summit in New Zealand was dominated by the question of what is the next step for New Zealand’s economy after the election.
It was also a chance to gauge the political climate, the new government and the new economy.
Prime Minister Jacinda Ardern was upbeat about the outlook for the economy.
“We’re on track to grow by an average of 5.6 per cent this year, so that’s pretty good, and then, I think, we’ll see a very strong start next year.
We’re on course for an annual growth rate of 7 per cent,” she said.
New Zealanders, like all New Zealanders who were born after the 1950s, have benefited from the economic boom and are now hoping for more.
The economy has added more than 10 million jobs since the last economic boom, which began in 2009.
“I think there are many reasons why the economy has been doing so well.
One is the fact that the housing market is still pretty robust, with very low mortgage rates and the supply of houses has been relatively low,” said Mark Williams, senior economist at Nomura.
Williams said there were also some factors that could affect the economic outlook.
“[Prime Minister Jacindas] government has been pretty much on a very cautious course, particularly in relation to trade.
So I think they have been cautious, and in the last couple of months, they’ve been trying to make sure that their trade policy is working,” he said.
“There are some very good economic indicators.
But I do think, as we’ve seen in the past couple of years, that some of those are starting to come through.
And I think the government’s been trying, for instance, to ease restrictions on Chinese and Japanese imports, which has been very beneficial for the New Zealand economy.”
In terms of job creation, I’ve seen some very positive indicators, such as an increase in the number of people working part-time, which I think is very positive.
And also, I’m seeing a lot of people moving into full-time work.
That’s great news.
“New Zealand has been hit hard by the global economic crisis.
The economy is forecast to grow only by 1.5 per cent next year, and is projected to shrink by 2.3 per cent in 2019.
The Government hopes that will be enough to keep the economy on a solid footing.
There were also signs of concern about the economy, particularly about its prospects for a recovery.
A report from Nomura predicts New Zealand will miss out on a 5 per cent recovery in 2019-20.
Ardern said she hoped the economic recovery would be the best that New Zealand could achieve.
She said she was confident that New Zealander jobs were on track, with more than 5.4 million jobs created since the global financial crisis, which started in 2007.
New Labour also said that the economic rebound would be good news.
Former finance minister Nick Smith said New Zealand would have done better if it had managed to do more to stimulate the economy and reduce unemployment, rather than relying on the government to do so.”
The key thing for New Labour was to deliver the stimulus.
It’s been really hard for the Government to do that, because they haven’t really had any support from the private sector, and that’s been a major problem,” Smith said.”
If they’ve managed to get a lot more stimulus, then we might see the recovery get even stronger.
“The election also saw the arrival of a number of new MPs, who will now be tasked with trying to convince the public that they are the right person to lead New Zealand into a new era of economic growth and employment.
More:Read more about the economic summit: Newspaper reports: The New Zealand Herald: “It’s good to see a strong economy growing again, even though it’s not quite as strong as it used to be.”