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New Zealand economy in general

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New Zealand’s economic freedom score is 84.4, making its economy the 3rd freest in the 2019 Index. Its overall score has increased by 0.2 point, with higher scores for trade freedom and labor freedom narrowly exceeding declines in judicial effectiveness and monetary freedom. New Zealand is ranked 3rd among 43 countries in the Asia–Pacific region, and its overall score is far above the regional and world averages.

A global leader in economic freedom, New Zealand has generally followed a long-term market-oriented policy framework that fosters economic resilience and growth. The new government shook business confidence in 2018 with plans for a higher minimum wage, union-friendly labor code reforms, fewer immigrant visas, a ban on housing purchases by foreigners, and higher taxes. A series of settlements after public-sector union strikes will likely push wage demands higher in the private sector. The rule of law is well maintained, and the judiciary is generally independent.

heritage.org

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