BUDGET 2013 COMMENT Plain sailing, but it's no America's Cup cat

Thu, 16 May 2013

by Pattrick Smellie May 16 (BusinessDesk) - Compared to the last four budgets, this year's reflects an economy moving out of recession and into calmer waters. The global financial crisis is still a risk, but we're not in the maelstrom anymore. For now, at least. Yet if the fastest annual growth rate we can expect over the next two years is 3 percent - - with the Christchurch rebuild in full swing - then you'd have to say New Zealand's underlying low-growth problem is far from fixed. Christchurch was bad luck which, during the repairs, is...

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