New Zealand Bureau Chief Jessica Maggio says New Zealand is “definitely” heading into recession and it’s “likely to happen” in the second half of next year.

The Reserve Bank of New Zealand Governor has “basically admitted” to “deliberate engineering or recession,” said Ms Maggio.

“To slow spending and to bring that inflation back down.”…(read more)

BREAKING: Recession News

LEARN MORE ABOUT: Bank Failures

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

New Zealand is ‘Definitely’ Heading into Recession

New Zealand is one of the most beautiful countries in the world, renowned for its stunning scenery, friendly locals and vibrant culture. However, it seems that the country is now headed for economic difficulty, with many experts predicting that NZ will soon enter into a period of recession.

With the Covid-19 virus having a significant impact on the global economy, many countries have already suffered, and now it appears New Zealand may be next in line. In March, the New Zealand government announced that it was moving to Level 4 lockdown, bringing the country to a near standstill. This move was necessary to slow down the spread of the virus and prevent hospitals from being overwhelmed. However, it has also had a devastating effect on the economy, with many businesses shutting down or operating at a greatly reduced capacity.

Unemployment rates have hit an all-time high, with many people now out of work as a result of the pandemic. Tourism, one of New Zealand’s most significant industries, has been hit particularly hard, with international borders closed, and many visitors cancelling trips. Other areas of the economy, such as retail, have also suffered, with people reluctant to spend money in uncertain times.

In addition to the impact of Covid-19, New Zealand was already facing significant economic challenges before the pandemic. The country’s housing crisis had been well-publicised, with many first-time buyers unable to afford to get on the property ladder. The government had also been criticised for not investing enough in infrastructure, particularly in key areas such as transport.

Now, with the pandemic highlighting these pre-existing problems, many experts are warning that New Zealand is ‘definitely’ heading into recession. The government has already taken some steps to try and mitigate the economic impact of Covid-19, such as introducing wage subsidies and offering loans to struggling businesses. However, these measures may not be enough to prevent a full-blown recession.

The good news is that New Zealand has a history of resilience, having weathered economic storms in the past. The government has already shown it is willing to take decisive action to protect its citizens, but there are still challenges ahead. The country will need to continue to invest in infrastructure and job creation, while finding ways to support struggling businesses and workers.

New Zealand may be facing tough times ahead, but with a strong sense of community and a determination to succeed, it is likely that the country will emerge from this challenge even stronger than before.