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Jacinda Ardern: Tearful farewell and economic balance - financial expert analyzed
According to a report by www.faz.net, former New Zealand Prime Minister Jacinda Ardern's economic record is worse than expected. After five and a half years in office, she leaves behind a country that is suffering from high prices and is on the verge of recession. Her confidant, Finance Minister Grant Robertson, has already announced that he will not be available as her successor. Ardern's resignation is accompanied by hateful comments that distract from her economic policy record. Inflation has increased in New Zealand since her first term, with food prices in particular rising by more than 8 percent. Labor's housing policy has failed, instead of the planned hundred thousand...
Jacinda Ardern: Tearful farewell and economic balance - financial expert analyzed
According to a report by www.faz.net, former New Zealand Prime Minister Jacinda Ardern's economic record is worse than expected. After five and a half years in office, she leaves behind a country that is suffering from high prices and is on the verge of recession. Her confidant, Finance Minister Grant Robertson, has already announced that he will not be available as her successor. Ardern's resignation is accompanied by hateful comments that distract from her economic policy record.
Inflation has increased in New Zealand since her first term, with food prices in particular rising by more than 8 percent. The Labor Party's housing policy has failed; instead of the planned hundred thousand apartments for the socially disadvantaged, only 1,366 were built. Ardern's recent decline in the polls shows that her party has lost support and may not secure sufficient votes to form a coalition in the upcoming election.
The impact of Ardern's policies is being felt not only in inflation and housing, but also in other sectors of the economy such as tourism and agriculture. The hard lockdown that New Zealand implemented during the corona pandemic severely damaged many businesses. While the death rate remained low, hotels, tourism companies and farmers suffered from the lack of guests and workers.
Ardern's climate policy has also been controversial. Although it has been strongly committed to climate protection, emissions still rose by 2 percent. Their restriction of greenhouse gas emissions in agriculture was particularly controversial because this causes high costs for farmers.
Given these facts, it is likely that Ardern's economic record will have a negative impact on the market and financial industry in New Zealand. Rising prices and economic uncertainty could deter investors and hurt the country's growth. It remains to be seen how the political landscape in New Zealand will develop and whether the new government will be able to address the economic challenges.
Source: According to a report by www.faz.net
Read the source article at www.faz.net