Hon GRANT ROBERTSON (Minister of Finance): New Zealand's strong economic and financial position has been recognised by Moody's Investors Service. In its annual credit analysis released yesterday, the credit rating agency notes that New Zealand has very strong institutions, sustained policy effectiveness, and a healthy fiscal position relative to its peers. They say that the New Zealand Government has a strong track record of managing shocks through effective fiscal policy while demonstrating fiscal discipline over the long term, and that they expect this to continue. They also highlight New Zealand's ongoing economic performance relative to its peers, and that the strong economic recovery illustrates New Zealand's resilience to the pandemic shock. While the output remains volatile, New Zealand finds itself in a good position to support New Zealanders as they deal with the challenges arising from the global energy crisis, supply chain disruptions, and the ongoing pandemic. 