NZ current account gap not a threat to economic stability, Treasury’s Mahklouf says

Wed, 12 Jun 2013

By Paul McBeth June 12 (BusinessDesk) - New Zealand’s deteriorating balance of payments won’t threaten the country’s economic stability and isn’t unsustainable, according to Treasury secretary Gabriel Makhlouf. The Treasury expects the country’s current account deficit will rise to $16.6 billion, or 6.5 percent of gross domestic product, by 2017 from $9.1 billion, or 4.4 percent of GDP, in 2012 and is being exaggerated by insurance flows stemming from the Canterbury rebuild, and isn’t ringing alarm bells, Makhlouf told Parliament’s finance a...

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