New Zealand changes economic policy due to low growth
Kyiv • UNN
The New Zealand government announced changes in economic policy due to low GDP growth and a large current account deficit. It is planned to increase exports to support the economy, which grew by only 0.3% for the year.
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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