Act used to get estimates
PA Wellington Estimates of inflation rates and current account deficits up to 1985 have been obtained by Dr Michael Cullen from the Reserve Bank using the Official Information Act. Dr Cullen, the Labour member of Parliament for St Kilda, said yesterday that the bank “clearly expects inflation to increase again in the next financial year.” He said that the bank also forecast nil growth in gross domestic product for the present financial year.
Dr Cullen said: “The bank expects inflation to increase from 5.2 per cent for the year ending March, 1984, to 7.5 per cent for the year ending March, 1985.
“From a current account deficit on overseas exchange transactions of $1644 million for the year ended March, 1983, the estimated deficit improves to $6BO million for the year ending March, 1984. “But then the forecast shows the deficit increasing again to $llBO million for the year ending March, 1985.”
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Press, 20 August 1983, Page 2
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156Act used to get estimates Press, 20 August 1983, Page 2
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