New Zealand unveils a record $30 billion fund in its budget to restore an economy hit by the coronavirus pandemic by JournoPraveen
FILE PHOTO: New Zealand's Finance Minister Grant Robertson speaks during a media conference in Wellington, New Zealand, May 17, 2018. REUTERS/Jonathan Barrett
“This has been the most extraordinary budget to put together,” Finance Minister Grant Robertson said in a this is a situation that no one has been through ever before. The NZ$50 billion fund will be used over a four-year forecast period, and about NZ$30 billion of it has already been allocated this year, the finance ministry said.
The operating deficit was at NZ$28.29 billion for the year ending June, plunging from a deficit of NZ$0.9 billion forecast in December.Prime Minister Ardern has garnered global praise for her leadership amid the pandemic, with the country recording only 21 deaths from coronavirus, among the lowest tolls in the world.
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