$483M deficit
PA Wellington. New Zealand’s balance-of-payments deficit for the: year ended .March 31, 1979, j, totalled 5483 million, the! Government Statistician (Mr; J. H. Darwin) has said. This compares with $716 < million in the 1977-78 year. I The deficit resulted from a surplus on merchandise I trade of $571 millionbeing i offset by a deficit on services and international in- I vestment income of $lOll : million and a deficit on : international transfers of $42 i million. i Direct investments in Nev/ 1
Zealand by overseas firms i amounted to $264 million, ’while investment by New j Zealand firms overseas was is 36 million. Private borrow- | ing of $77 million was repaid over the year, but Government borrowing for development amounted to $248 million. During the 1979 year New Zealand repaid $57 million of previous borrowings from the International Monetary Fund, but borrowed $3337 million in order to do this and to compensate for deficits on the current account and on its long-term liabilities.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19800428.2.90
Bibliographic details
Press, 28 April 1980, Page 14
Word Count
164$483M deficit Press, 28 April 1980, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in