New Zealand is changing its economic priorities due to low growth and a large deficit. This was reported by Reuters, according to UNN.
Details
The New Zealand government has announced changes in economic policy, including an increase in exports, to support the economy, which grew by only 0.3% in the year to March 2024. This is the lowest figure since the start of the pandemic in 2020. In addition, the country is facing a current account deficit of 6.8% of GDP.
Exports play an important role in New Zealand's economy, accounting for almost a quarter of its GDP.
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