CCTV.com - CNTV English - CCTV News

New Zealand Finance Minister lists reasons to be cheerful about economy, despite warnings

06-20-2011 16:09 BJT

WELLINGTON, June 20 (Xinhua) -- New Zealand Finance Minister Bill English took to the Internet Monday to issue a "list of reasons to be positive" about the country's economy amid a raft of positive economic data tempered with warnings.

English gave a public "briefing" on the economy via YouTube, telling viewers that the country was in generally good shape despite taking a double hit from a global recession and the series of earthquakes that have been shaking much of second city of Christchurch to rubble.

"In the last couple of years we've faced two challenges. One has been to simply get through the recession, manage the unexpected events like earthquakes, protect the most vulnerable when the economy hasn't been in good shape and the government's been in deficit," said English.

"The other challenge has been to set a platform for future growth at the same time so we have focused on longer term policies over the last couple of years which are going to lift our potential growth, such as investment in infrastructure.

"It's good to see some growing confidence about the New Zealand economy. People, I think, are carefully starting to think that the economy is picking up and there are a number of reasons to be positive," he said, introducing his nine positive points.

Top of his list was the country's terms of trade "at 40-year highs, so a unit of New Zealand exports can buy more than it's been able to buy than at any time in the last 40 years."

He also credited the country's close trade relationship with neighboring Australia and growing trade with Asia with buoying New Zealand's prospects.

"We are finding ourselves in a part of the world next to the world's fastest growing developed economy until quite recently that's Australia and all the other economies that Australia trades with and we trade with growing so fast actually that they' re doubling their incomes about every eight or nine years and willing to pay more for more of our goods."

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program