GDP/Politics/Economy
'We have a plan', Luxon says
The current government "got an inheritance, which was the biggest recession in 35 years", Prime Minister Christoper Luxon said when questioned by reporters about the declining economy on Friday morning.
"We go the longest hangover from Covid of any western economy in the world, and we're dealing with a really challenging global trading environment," Luxon said.
"And despite all of that we have a plan to take New Zealand forward."
He pointed to lower inflation and lower interest rates as being part of that plan, while economic growth was "projected to come strongly over the coming years".
It also included "unemployment peaking and coming down", he said.
"There's no doubt about it, we're cleaning up a hell of a mess and we're turning this country around.
"We have more work to do, but we've got a good plan going forward."