Focusing on sustainable jobs and growth

National’s economic policy during the global recession has been focused on sustainable jobs
and growth.
We’ve taken steps to keep people in employment or assist them when they lose their jobs.
And we’ve put in place policies that encourage economic growth built on exports and
investment, rather than Government or consumer spending.
In addition, the Government has taken the necessary, and prudent, steps to get the books in
order after inheriting a decade of deficits from the previous government.
New data out this week shows New Zealand's economy is on the right track. The current
account deficit has hit a five-year low and GDP data shows the economy grew 0.1 per cent in
the June quarter following five quarters of contraction. This is ahead of forecasts made in
Budget 2009.
This shows that our economy is stabilising, but there is a lot of work to do if we are to have a
strong recovery that leads to sustainable jobs and growth.
We know that many individuals and families are still struggling. That is why we are continuing
to roll out initiatives to help people back into work or training, and we are maintaining support
to low-income families and those most vulnerable during these tough economic times.
For more information:
http://statistics.govt.nz/browse_for_stats/economic_indicators/balance_of_payments/Balance
OfPayments_MRJun09qtr.aspx
http://statistics.govt.nz/browse_for_stats/economic_indicators/GDP/GrossDomesticProduct_
MRJun09qtr.aspx