New Zealand was governed in 2023 by former PM Chris Hipkins, and before him, of course, Jacinda Ardern. How did they do, especially in comparison with other nations in our Asia Pacific region of the world? The IMF has released the figures. In 2023 NZ had the worst level of GDP growth at just 0.6%. The IMF projects NZ will grow by zero in 2024, again the worst in our region. The average increase in GDP for Asia Pacific last year was 5.0% and this year its projected to be 4.6%. In terms of inflation, NZ had the second highest level at 5.7%, just behind the Philippines at 6.0%. The average inflation rate in Asia was 2.6%. As for our current account (difference between exports & imports), NZ's was by far the worst at -6.9%. Our exports are rising now, but the deficit is still projected to be worst in the region in both 2024 and 2025. As for the unemployment rate, it started rising as the recession that Chris Hipkins & RBNZ Governor Orr deliberately "engineered" got going, and is expected to be second worst in the Asia-Pacific region both this year and in 2025. Whatever new PM Chris Luxon's faults, anything is an improvement on Chris Hipkins & the country's Worst Finance Minister Ever, Grant Robertson, as well as former PM Ardern, who divided the country and destroyed NZ's social fabric with her "holier than thou" moralizing, more than any PM before her. And what is Labour's solution to the problem? Bang in more taxes.
