Left Menu
Development News Edition

New Zealand announces NZ$12.1 bln fiscal package as recession fears loom

Reuters | Wellington | Updated: 17-03-2020 06:42 IST | Created: 17-03-2020 06:42 IST
New Zealand announces NZ$12.1 bln fiscal package as recession fears loom

New Zealand on Tuesday said it would pump NZ$12.1 billion ($7.31 billion), representing 4% of GDP, to stimulate the economy, amid fears that disruptions from the coronavirus outbreak could trigger a recession.

The package was a larger than that implemented in response to the global financial crisis and bigger than those announced by countries like Australia, Singapore and others, Finance Minister Grant Robertson said in a news conference. ($1 = 1.6548 New Zealand dollars)


TRENDING

OPINION / BLOG / INTERVIEW

Rethinking Rural Livelihoods in the Times of COVID-19

The reverse migration caused by COVID 19 pandemic has put an additional burden of about one crore people on Indian villages particularly in the states of Uttar Pradesh, Bihar, Bengal and Odisha. Besides increasing the risk of spreading the ...

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Videos

Latest News

CSIR-NEIST working to improve academic scenario affected by COVID-19

The North East Institute of Science and Technology NEIST is working towards ameliorating the stagnancy created in the academic scenario of the nation due to COVID-19 pandemic. Jorhat-based CSIR-NEIST got the mandate from DG, CSIR Dr Shekhar...

39 more people test positive in Punjab; COVID tally rises to 2,415

Punjab continued to witness a spike in coronavirus cases with 39 people testing positive on Thursday, pushing the states COVID-19 tally to 2,415. With these fresh cases, the state has so far seen more than 200 people testing positive for th...

WRAPUP 3-U.S. jobless claims dip below 2 million, road to recovery rocky

The number of Americans filing for unemployment benefits dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID...

Soccer-Milan say Ibrahimovic making good recovery from calf injury

AC Milans veteran forward Zlatan Ibrahimovic is recovering well from a calf muscle injury, the Serie A club said on Thursday. Ibrahimovic has undergone a check-up following the injury to his right soleus muscle. His recovery is proceeding w...

Give Feedback