New Zealand Finance Minister Willis: The economic situation is challenging for government
Source Fxstreet
May 8, 2024 21:30
New Zealand's Finance Minister Nicola Willis gave speech notes ahead of Thursday's Pacific market session regarding New Zealand's latest budget notes. NZ Finance Minister Willis noted that New Zealand's economic situation continues to deteriorate, putting significant pressure on both New Zealanders and the NZ government's abilities to operate.
Key highlights
The economic situation is challenging for government books.
Growth forecasts keep getting worse.
It won't be a big-spending budget, this is a time for restraint but not austerity.
Tax relief will be meaningful, but modest.
Tax cuts won't add to inflation.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Related Articles
China’s Retail Sales rose 2.3% YoY in April from 3.1% in March, worse than the 3.8% expected.
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1053 as compared to the previous day's fix of 7.1030 and 7.2307 Reuters estimates.
The Reserve Bank of Australia (RBA) will announce its decision on monetary policy early on Tuesday.
