'Worse than GFC', Treasury tells PM on coronavirus

'Worse than GFC', Treasury tells PM on coronavirus
Pattrick Smellie
The impact of the coronavirus on the New Zealand economy could be worse than the global financial crisis of 2008-09, Prime Minister Jacinda Ardern says.While there are no new official Treasury or Reserve Bank economic forecasts that reflect the enormity of the changes to global economic activity being created by radical curtailment of international travel and day-to-day activities, Ardern said preliminary advice from the Treasury is that it could be "greater than the impact of the GFC".The New Zealand economy went into recession for five quarte...

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