Finance Minister Bill English says exporters should not count on a surge of global economic growth to help improve their prospects.
Mr English has returned from Tokyo, New York and Boston where he spoke to international lenders about the government's plans to control debt, lift growth and boost exports and investment.
He says politicians worldwide face a difficult balancing act as they try to withdraw government spending against rising public expectations.
Public debt in New Zealand will more than double over next four years to pay for infrastructure, he says. As with other countries, New Zealand has to work out how to get on top of that debt faster and put more resources into investment and exports.
Mr English says he's satisfied with New Zealand's balance between stimulus and debt, but points out there will be no wave of growth in New Zealand's export markets, given economic uncertainty in Japan and the United States.
