Three developments shift Treasury's view on economy

Wed, 17 Jun 2020

Three major developments since the May Budget have changed the Treasury's view on how things are unfolding due to covid-19, according to Secretary Caralee McLiesh. The Treasury’s economic scenarios for the budget were finalised on April 17 and it still expects the New Zealand economy will face the sharpest contraction on record in the June quarter, followed by a prolonged recovery, McLiesh told Parliament's finance and expenditure select committee. However, since that time “three major developments have affected our view of the outlook.”...

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