New Zealand economic reforms

New Zealand’s economic reforms in the 1980s and 1990s involved significant changes to make the economy more open, competitive, and efficient. The government reduced its direct control over industries, eliminated many subsidies, and deregulated markets. Key measures included privatizing state-owned enterprises, lowering tariffs to encourage imports and exports, and adopting a flexible monetary policy to control inflation. These reforms aimed to boost economic growth, improve efficiency, and create a more responsive economy. While they brought increased competitiveness and growth, they also led to social and economic adjustments for many New Zealanders.