New Zealand sees three quarters of negative GDP growth in CY23
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In the Half Year Economic and Fiscal Update, the New Zealand Treasury has forecasted three-quarters of a shrinking economy starting in the second quarter of 2023.
Lifts planned bond issuance by nz$18bln over 4 years.
Forecasts return to budget surplus in 2024-25.
Fiscal policy will help RBNZ battle inflation.
Government will run contractionary fiscal policy.
To end cut in gasoline tax by march 31.
More to come…
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