New Zealand unveiled a record NZ$50 billion ($30 billion) spending package on Thursday to revive an economy hit by the coronavirus pandemic, but warned it may not be enough to stop thousands from losing jobs and businesses shutting.
FILE PHOTO: New Zealand's Finance Minister Grant Robertson speaks during a media conference in Wellington, New Zealand, May 17, 2018. REUTERS/Jonathan Barrett
The NZ$50 billion will be spent over a four-year forecast period and is more than any New Zealand government has ever spent in one budget. The dark outlook comes as neighbouring Australia on Thursday reported record monthly jobs losses of about 600,000 in April. “We expect New Zealand’s economy to recover faster than the budget assumes, aided by the quicker easing of lockdown restrictions than assumed in the budget,” the agency said.
But she faces a tough task rebooting the $200 billion economy, which is dependent on trade and tourism, with growth expected to slow significantly and hundreds of thousands of jobs to be lost.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Taylor Swift-obsessed gamer drowns while searching for her at New Zealand beachStephen Kapeli, 26, died at Takapuna Beach in New Zealand in April 2017 after being granted an hour of unescorted leave from a mental health facility
Lire la suite »
New Zealand still supports Taiwan at WHO despite Chinese rebukeNew Zealand's foreign minister on Tuesday said the country has to stand up for itself after China warned its backing of Taiwan's participation at the World Health Organization (WHO) could damage bilateral ties.
Lire la suite »
China clashes with New Zealand for supporting Taiwan rejoining WHO - Business InsiderChina tells New Zealand to stop 'creating trouble' after Deputy Prime Minister Winston Peters backed Taiwan rejoining the World Health Organization
Lire la suite »
Lockdown ends and the locks fall down as a New Zealand barber gets back to businessNew Zealand dropped most of its lockdown restrictions at midnight Wednesday night as the country tries to get back to normal after the coronavirus.
Lire la suite »
New Zealand unveils record spending to deal with pandemic shockNew Zealand unveiled a record NZ$50 billion ($30 billion) fund in its budget on Thursday to restore an economy hit by the coronavirus pandemic, but warned it may not be enough to stop thousands from losing jobs and businesses shutting.
Lire la suite »
New Zealand barber snips away at midnight as nation reopensNew Zealand drops most of its lockdown restrictions as the country prepared itself for a new normal. Malls, retail stores and restaurants are all reopening in the South Pacific nation of 5 million, and many people are returning to their workplaces.
Lire la suite »