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The price for overcaution

It says a lot about this economic crisis when a forecast of -4.5% annual growth is regarded as good news. Yet that was the forecast the International Monetary Fund released yesterday. Unfortunately, it was not for New Zealand but for Australia. In New Zealand’s case, the IMF kept its 2020 forecast at -7.2%. That is worse than Australia and the global GDP forecast at -4.9%. At least it is better than the -10.2% predicted for the Eurozone. Read more

Dr Oliver Hartwich
Insights Newsletter
26 June, 2020
Policy Point Borrowing to Save Retirement Income Policy After Covid 19 3

Policy Point: Borrowing to Save: Retirement Income Policy after Covid-19

The Government’s response to the economic challenges of Covid-19 has primarily focused on new spending which will balloon public debt from 19% of GDP in 2019 to 30% in 2020 and peak at nearly 54% of GDP by 2024. It is only expected to modestly fall to 42% of GDP by 2034.A clear choice has been made to defer paying the costs of the Government’s economic response to the Covid-19 crisis into the future, either by lower levels of public... Read more

Policy Point
19 June, 2020

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