NZ pre-election outlook update - lowers peak unemployment rate forecast

Author: Eamonn Sheridan | Category: News

New Zealand pre-election update (election coming in October)

Headlines via Reuters.

NZ Treasury:

  • sees June quarter GDP at -16%, down from its previous forecast of -23.5%
  • sees 2020 GDP -3.1 pct (budget -4.6 pct); 2021 GDP at -0.5%
  • sees 2020 net debt 27.6 pct of gdp (budget 30.2 pct); debt 55.3% of gdp in 2024
  • 2020 cash balance nz$23.692 bln (budget nz$-32.031 bln)
  • sees unemployment rate to peak at 7.8%, down from 9.8% forecast in the budget

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