While New Zealand’s economy contracted in 2020, it is forecast to rebound strongly in 2021, outperforming regions we compare ourselves to like the Eurozone, the UK, and Japan,” Finance Minister Grant Robertson said Wednesday while presenting the half-year fiscal and economic update, according to Bloomberg. Robertson said that the government’s decision to act quickly in response to the global Covid-19 pandemic has contributed to a better than expected economic recovery. Economic forecasts The Treasury Department forecasts annual average growth of 1.5% in the year through June 2021 versus 0.5% three months ago. Budget deficits are now seen falling from NZ$21.6 billion, or 6.7% of GDP next year, to NZ$4.2 billion, or 1% of GDP, in 2025. Unemployment to peak at 6.9% at the end of next year versus 7.8% predicted in September. Bond issuance for 2020-21 has been cut by NZ$5 billion to NZ$45 billion. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australia to make request to WTO over China barley tariff FX Street 2 years While New Zealand's economy contracted in 2020, it is forecast to rebound strongly in 2021, outperforming regions we compare ourselves to like the Eurozone, the UK, and Japan," Finance Minister Grant Robertson said Wednesday while presenting the half-year fiscal and economic update, according to Bloomberg. Robertson said that the government's decision to act quickly in response to the global Covid-19 pandemic has contributed to a better than expected economic recovery. Economic forecasts The Treasury Department forecasts annual average growth of 1.5% in the year through June 2021 versus 0.5% three months ago. Budget deficits are now seen falling from NZ$21.6… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
