WELLINGTON, Jan. 23 (Xinhua) -- The New Zealand government's strong financial management and plan on new infrastructure investment has gained further recognition from an international ratings agency.
Credit rating agency Fitch has upgraded one of its main metrics assessing the government's books, lifting its foreign currency AA rating outlook to "positive" from "stable."
"This is further recognition that we are managing the books well, and balancing important investments across New Zealand including in health, education and infrastructure," Finance Minister Grant Robertson said on Thursday.
"It shows that the economy is in good shape. New Zealand is growing stronger than the countries we compare ourselves to, like Australia. Growth is also being shared more evenly, with low unemployment and the strongest wage growth in a decade," Robertson said.
Fitch noted the government's upcoming announcement of significant new infrastructure investment to boost short-term growth and New Zealand's medium-term growth potential.
The report forecasts New Zealand's economic growth to rise in 2020 and 2021.
