‘lnflation will remain high’
NZPA-Reuter Paris New Zealand's expansionary policy had recently been tightened, the Organisation for Economic Co-operation and Development said yesterday. Large public expenditure cuts were being sought and short-term interest rates had been rising, it said. Government consumption was thus expected to stagnate and Government investment. after rising strongly in 1981, was expected to grow’ only modestly in 1982 and and possibly fall in 1983. Private consumption also seemed likely to be reduced in 1982 and 1983, but inflation was expected to remain high. The O.E.C.D. forecast a rise in the consumers price index of 15*2 per cent in 1982 and 15 per cent in 1983. after a rise of 15.7 per cent in 1981.
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Press, 8 July 1982, Page 2
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118‘lnflation will remain high’ Press, 8 July 1982, Page 2
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