In brief

The National Party, led by the prime minister, Christopher Luxon, will govern the country in a coalition with ACT and NZ First. Under the new administration, the controversial Three Waters project and the ban on residential property purchases by foreigners will be scrapped. Policing and criminal sentencing will rise up the agenda, at the expense of co-governance and sustainability-related policies. New Zealand's economy will return to growth following a recession in 2023, but expansion will remain below its long-term average until late 2024. Consumer price inflation will ease gradually in 2024 as global commodity prices moderate. The Reserve Bank of New Zealand (RBNZ, the central bank) will maintain its policy rate at 5.5% until late 2024, when inflationary pressures are decisively quelled.

Read more: New Zealand's economy goes into reverse again

Read more: RBNZ warns of impact of population growth on inflation