We're skiing on a slippery slope – something has to be done

The New Zealand economy has skied into dangerous territory. (Image: Unsplash)

Sat, 18 Mar 2023

Pencil in March 15 as a key date. That date last week could mark the beginning of the 'great rotation'.The great rotation is a move back to one of the holy grails of economics – balanced growth.This week it was announced that New Zealand’s current account deficit blew out to 8.9% of gross domestic product, the highest on record, and a nominal deficit of $33.8 billion.The current account is our transactions with the rest of the world in trade in goods and services, and net investment income. The goods balance is in defic...

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