Global financial situation dark - English
The global financial outlook is dark, according to Finance Minister Bill English.
The global financial outlook is dark, according to Finance Minister Bill English.
Mr English, who spoke to Prime Minister John Key over the weekend, is due back in New Zealand late today from a visit to the United States.
While there, he spoke to a range of people about the global outlook, Mr Key said.
The expectation was both the United States and Europe faced tough times during the next 12 months, he said.
Although New Zealand was not immune to that, Mr Key said it was better off than most countries and there was certainly no reason for doom and gloom.
“Most countries would trade and take our position.”
New Zealand sold products the world wanted to buy, he said, while Asian economies were growing at around 8% or 9%.
Mr Key said from what Mr English had told him, the present situation was quite unlike that of 2008-09.
It was far more discerning, with particular institutions and countries affected, he said.
Colin Williscroft
Tue, 27 Sep 2011
Tue, 27 Sep 2011
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Global financial situation dark - English
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