From the media in 2010,
NBR “Impossible dream: New Zealand unlikely to catch up with Australia – expert”
NZIER “When will New Zealand catch up with Australia”
“Catching up with Australia is not impossible, but very unlikely…”
To an article in The AustralianNew Zealand : “Its economy has grown by an average of 3.2 per cent since 2013 measured by GDP, partly driven by population growth and rebuilding after the Christchurch earthquake. Australia has ambled along at an average of 2.3 per cent. Nine years ago GDP per capita in New Zealand was 30 per cent lower than in Australia, now the gap has narrowed to 19 per cent.
Today the New Zealand budget is in surplus while Australia is still running deficits. Ten years ago the New Zealand government’s gross debt stood at 25 per cent of GDP while Australia’s sat on 20 per cent. Today the positions are reversed. Australia’s net public debt is at 47 per cent; New Zealand’s hit a peak of 41 per cent in 2012 and has steadily declined to 38.2 per cent.”