December 20, 2023
1 min read

New Zealand Govt Initiates Economic Repair

The repair will also deliver cost of living relief and restore responsibility to the management of public finances…reports Asian Lite News

The New Zealand government is starting a massive economic repair job to fix the country’s “fragile economy”, Finance Minister Nicola Willis said on Wednesday.

The repair will also deliver cost of living relief and restore responsibility to the management of public finances, Xinhua news agency quoted Willis as saying.

The repair plan was in response to the latest half-year economic and fiscal update, which highlights high and sticky inflation, high interest rates and reduced economic output, the Minister said.

The update shows the scale of the financial challenges and fiscal risks New Zealand faces.

The government announced a “mini-Budget” setting out the immediate steps the government is taking to strengthen New Zealand’s economy, repair public finances and deliver cost-of-living relief.

The mini-Budget draws a line under six years of economic mismanagement and unveils a new chapter for New Zealand’s economy, Willis said.

The Minister also announced tax and benefit changes and a commitment to delivering further income tax relief in Budget 2024.

ALSO READ: BNP Declares ‘Non-Cooperation’ Ahead of B’desh Polls

Previous Story

Sharjah Ladies Run’s 9th Edition Promises an Out-of-World Experience

Next Story

Hamas Leader Haniyeh in Cairo for Ceasefire Talks

Latest from -Top News

UN slams attacks on civilians in El Fasher

The office said the United Nations and its humanitarian partners remain committed to scaling up their life-saving support across Darfur…reports Asian Lite News UN humanitarians, alongside their partners in Sudan, are warning

Afghanistan vows retaliation after talks breakdown

While reiterating its commitment to dialogue, Kabul threatened that it would not tolerate further cross-border attacks….reports Asian Lite News Afghanistan issued a stern warning to Pakistan on Tuesday, vowing a strong response

ASEAN-India Summit lays path for multipolar Asia

According to the report, ASEAN continues to measure its success through pragmatic regionalism…reports Asian Lite News The ASEAN-India Summit provided a platform for Southeast Asian partners — India foremost among them —

Lahore Tops World Pollution Chart

Along with Lahore, Pakistan’s Karachi also featured in the top 10 most polluted cities globally. …reports Asian Lite News Lahore, Pakistan, continues to hold the title of the world’s most polluted city.
Go toTop

Don't Miss

T20 Semi-final 1 : New Zealand hopes to break knockout jinx against Pakistan

The rest of the batting order has a healthy mix

New Zealand to bridge gender pay gap

This move is part of the government’s ongoing commitment to