GDP GROWTH ON TRACK SAYS PETERS

The 2.3 per cent growth in GDP for the year to December 1997 was consistent with forecasts and represented continued stable economic growth, Deputy Prime Minister and Treasurer Winston Peters said.

"The year finished with a steady December quarter with economic activity up 0.5 per cent which was similar to the 0.6 per cent growth in the previous quarter.

"We are committed to continuing our careful fiscal management of the economy and we expect ongoing surpluses, lower debt and improving economic growth," Mr Peters said.

"In the eight months to February, the Government's operating surplus was $2.2 billion, $550 million higher than forecast in the December Economic and Fiscal Update.

Mr Peters said continued surpluses would help repay debt and weather adverse economic conditions from abroad.