STORY CONTINUES BELOW THESE SALTWIRE VIDEOSWELLINGTON - New Zealand’s government on Tuesday predicted a larger budget deficit but better-than-expected economic conditions in the year ahead, as it updated forecasts heading into the October election.
With the country in a technical recession and inflation at three-decade highs, the economy is shaping up as the key issue as New Zealanders head to the polls. The government was required to release revised fiscal forecasts ahead of a general election on Oct. 14. "The economy is holding its own in an uncertain global environment," said Robertson."Our economic plan to support New Zealanders dealing with the cost of living while investing in building a stronger, more resilient and inclusive economy is working."
"Treasury’s latest forecasts show the economy isn’t working for Kiwis," said National Party leader Christopher Luxon.