WELLINGTON, New Zealand (AP) — New Zealand’s economy is expected to remain sluggish for another two years, although the overall picture is rosier than many observers had feared, new figures released Tuesday indicate.
The nation’s Treasury released the projections ahead of an election next month.
Net debt as a percentage of the economy is expected to peak at 23% in 2025.
Political Cartoons View All 1152 Images“I think what these books represent is a turning of the corner for the New Zealand economy,” said Finance Minister Grant Robertson.
New Zealand's economy dipped into a shallow recession this year after COVID-19 recovery funds dried up and higher interest rates put the brakes on consumer spending.
Persons:
”, Grant Robertson, David Seymour
Organizations:
Treasury, New, ACT Party
Locations:
WELLINGTON, New Zealand, “