New Zealand government spending to rise

From the half year budget update.

Spending to rise by NZD 12bn, most of it infrastructure investment.

New Zealand Finance Minister Grant Robertson announces the added NZD 12bn in spending.

  • says domestic economy slowing but still outperforming its global peers
  • economy impacted by Brexit and US-China trade war

The budget update has cut the GDP forecast for 2019/20 to +2.3% (from +3.2%)

NZD up on this.