An international ratings agency has kept New Zealand’s credit status at the highest possible level.
Moody’s Investors Service has affirmed the Government’s triple-A issuer rating with a stable outlook and said it was in a strong fiscal position compared to other countries.
“We expect New Zealand’s economy to be among the fastest growing Aaa-rated economies in coming years,” it said.
Factors behind the rating included New Zealand’s economic resilience against overseas and domestic shocks, which remained “very high, supported by strong growth”.
The country was also praised for its “proactive” policies, a vigilant central bank and stable political system which meant it had effective tools to “shoulder downside scenarios”.
Moody’s noted that strong population growth had bolstered the economy’s potential and that longer term, its growth could be higher than many other Aaa-rated countries.
We are one of the very few developed economies to have the books back in surplus, and be paying our way.