SYDNEY (Reuters) – New Zealand Finance Minister Grant Robertson said the world economy faced a “year of reckoning” in 2023 but the small island nation was well placed to fend off trouble in trading partners thanks to robust growth and a stable financial system.
Fronting a parliamentary committee on Tuesday, Robertson said New Zealand’s strong economy meant it was well placed to withstand the global recession on its doorstep.
“These accounts and economic figures are not ends in themselves, they are a means to an end,” said Robertson.
“And one of those ends includes New Zealand’s ability to stand up to the global recession which is on our doorstep.”
“Countries will either be in recession or feel like they are. This is the year of reckoning,” he said.
(Reporting by Lewis Jackson; Editing by Tom Hogue)
