New Zealand’s (NZ) Treasury is out with its pre-election Economic and Fiscal Update (PREFU) for this year, with the key takeaways found below (via Reuters).
NZ gov sees unemployment rate to peak at 7.8%, down from 9.8% forecast in budget
Sees 2020 GDP -3.1 Pct (Budget -4.6 Pct); 2021 GDP at -0.5% –
Sees net debt rising to 55.3% of GDP in 2024
Forecasts shallower virus slump, longer impact
more to come ….
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