PREFU: Short term looks better but recovery to take longer

Wed, 16 Sep 2020

The immediate covid-19 hit to New Zealand’s economy isn’t as harsh as expected but the recovery is now expected to be a longer slog.“The near-term outlook is less negative; however, we have revised down our forecasts for long-term growth,” said Caralee McLiesh, secretary to the Treasury, at the release of the pre-election fiscal and economy update. However, nothing is certain. The update includes a central forecast and three other possible scenarios and “even these three scenarios do not cover the range...

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