New Zealand announces NZ$12.1 bln fiscal package as recession fears loom
- Country:
- New Zealand
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)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- New Zealand
- Grant Robertson
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