• Steven Joyce: former Finance Minister on New Zealand's GDP crashing harder than expected during September quarter

  • Dec 19 2024
  • Length: 6 mins
  • Podcast

Steven Joyce: former Finance Minister on New Zealand's GDP crashing harder than expected during September quarter

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  • Summary

  • People will have questions, after one of the country's worst quarterly GDP dips in decades.

    Stats NZ figures show New Zealand's gross domestic product crashed down one percent in the September quarter.

    It's put the country in the deepest recession since the Covid-driven slump in 2020.

    Former Finance Minister Steven Joyce says the Reserve Bank Governor, Adrian Orr, needs to speak up and explain.

    "I think there is some legitimate questions to be asked - I can remember, quite recently, him saying he's got it all under control and that this is going to be a soft landing. Well, quite clearly, it wasn't."

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