New Zealand National Debt soard to $15 Billion

Post Reply New Topic

Maybe small fry compared to other countries but as a Kiwi this shocks me, despite understanding the economic costs of recession and the Canterbury Earthquake.

what country does New Zealand borrow money from?

Its actually pretty reasonable. Also we're not a debt basket case like many western economies like Iceland, Greece, Portugal..Ireland, and hopefully not yet but possibly Spain.
Our banking sector is very strong and our primary produce exports there will always be a demand for so things are actually- comparatively not too bad. The problem is we always compare ourselves to Australia and that place is chokka full of frikkin Uranium and other stuff sitting in the ground plus they have a lot more people so we're alway on a hiding to nothing on that front.

What is the GDP of New Zealand? The critical number is not the national debt, but the ratio of debt to GDP.

ruveyn

New Zealand's economic problems are the result of Rogernomics, the biggest crime against New Zealand ever, and as usual with such plutocratic reforms, "irreversible" - not unlike a vampire attack, the vampires are strengthened and victims weakened for the next round of "inevitable, irreversible" plutocratic reforms.

Maybe you guys should focus on boosting tourism:



Sorry, couldn't resist. I think I just miss Flight of the Conchords.

http://www.economicshelp.org/blog/econo ... y-country/

According to that around 30%, whereas UK is 68.5% and the US 90%.
I don't even really know that that all means though.

It means that the U.S. is just a step and a half from insolvency. It will be cured by repudiating the debt and remonetizing metal to some degree.

ruveyn

30% debt to GDP ratio is very small. There is no debt problem of any kind. I suppose that Rogernomics will be credited with that... just as the nonsense of the Great Canadian Slump is credited with everything economically good in Canada.

http://www.nationmaster.com/country/nz- ... co-economy