The New Zealand government plans a significant increase in infrastructure spendi...
FILE PHOTO: A New Zealand Dollar note is seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration/File Photo
Economic output of the Pacific country has been ebbing this year with activity in the service industries, construction, mining and manufacturing - main contributors to gross domestic product growth - idling. The central bank, which surprised the market earlier this month by not easing monetary policy, has repeatedly called on the government to spend more to drive economic growth.
“We are currently finalizing the specific projects that the package will fund but I can tell you this – it will be significant.”
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