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OECD warns NZ to watch spending

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Author Topic: OECD warns NZ to watch spending  (Read 54 times)
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Lovelee
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« on: April 16, 2009, 09:04:11 pm »

Are ya listening Jonkey??

New Zealand cannot continue to spend its way out of recession, the OECD warns.

The Organisation for Economic Co-operation and Development has warned the Government that international investors could cut New Zealand adrift if debt levels are not brought under control.

The Paris-based club of rich nations says New Zealand is one of the most indebted countries in the world, once government and household debt is taken into account.

The OECD says is this measure of a country's borrowings that international investors consider when making lending decisions.

However, the OECD believes the Government faces a difficult balancing act, as it risks a deeper recession and bigger deficits by clamping down on government spending too hastily.


http://www.radionz.co.nz/news/stories/2009/04/16/1245aa1eb610
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