Friday, August 22, 2014   

NZ to see faster growth in salary than inflation
(04-15 10:50)

New Zealand's average annual wage is expected to rise by 20 percent from the 2012 level by 2018, while inflation will be just 12 percent over the same period, Finance Minister Bill English said Tuesday.
The average wage is expected by be around NZ$62,200 in 2018, compared with NZ$51,700 two years ago and NZ$54,700 now, if the country achieves its economic growth over the next four years, English said.
The New Zealand Treasury expected the economy to grow by between 2 percent and 4 percent a year out to 2018, he said.
"So if you take that six-year period as a whole, the average wage will have gone up NZ$10,500, or around 20 percent, compared to inflation of around 12 percent over the same period," English said.
"Everyone's situation is different and many families are still finding times are challenging. But the benefits of a sustainably growing economy are tangible and meaningful," English said.
He reaffirmed the government would maintain spending discipline in next month's budget to avoid the Reserve Bank of New Zealand reacting by further tightening monetary policy and pushing up interest rates. --Xinhua   
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