NZ may not feel full covid economic impact for 2, 3 years

NZ businesses are still facing supply chain disruption and a lack of resources, including staff. (Image: Deposit Photos))

Jenny Ruth

Wed, 23 Jun 2021

It may take two or three years before New Zealand feels the full impact of the covid-19 pandemic, if past global convulsions, such as the 1987 share market crash, the Asian crisis and the global financial crisis, are anything to go by, warns accounting firm KPMG.For that reason, the major banks are wise to retain at least some of the provisioning they made early in the crisis and before it became clear the NZ economy would bounce back so strongly, KPMG said in its March 2021 financial institutions performance survey."The covid-19 shock has...

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