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OECD Economic Surveys: New Zealand 2013

image of OECD Economic Surveys: New Zealand 2013

OECD's 2013 Economic Survey of New Zealand examines recent economic developments, policies and prospects. This issue features special chapters on school to work transition and long-term growth.

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Executive summary

The New Zealand economy is beginning to gain some momentum, with post-earthquake reconstruction, business investment and household spending gathering pace. Risks to growth remain, however, stemming from high private debt levels, weak foreign demand, large external imbalances, volatile terms of trade, a severe drought and an exchange rate that appears overvalued. The main structural challenge will be to create the conditions that encourage resources to shift towards more sustainable sources of prosperity. Incomes per head are well below the OECD average, and productivity growth has been sluggish for a long time. Lifting living standards sustainably and equitably will require structural reforms to improve productivity performance and the quality of human capital.

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