The IMF says New Zealand is living beyond its means :
. . . the International Monetary Fund’s (IMF) latest report on New Zealand’s economy warned the Government to rein in spending and for the Reserve Bank to prepare for further interest rate hikes, should they be needed.
The financial agency on Wednesday said New Zealand’s economy was likely to continue slowing in the near term.
Inflation wasn’t expected to decline to the Reserve Bank’s target range of between 1 and 3 percent until 2025, the IMF warned.
It also warned New Zealand’s “current account balance (meaning the country is exporting less than importing) has deteriorated significantly, reflecting excess demand and one-off factors”.
“For the first quarter, that [current account deficit] number came in at 8.5 percent [of GDP],” explained Mark Riggall, a portfolio manager at Milford Asset Management. “So it’s an improving situation – but it’s still pretty bad…
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Utopia, you are standing in it! 
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