Tag: Economy

NZ Investment Scams On the Rise

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The Financial Markets Authority (FMA) published a report regarding an increase in scams towards investors in the country. Most of the scammers target consumers, while pretending to be respectable businesses operating in New Zealand. With COVID-19 triggering a boom for online business and e-commerce activities online, scammers have treated the…

New Tourism Solutions Needed to Boost NZ’s Economy

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Every little bit helps. Such is the thinking behind a variety of steps currently being considered or implemented, to try to get New Zealand’s struggling tourism industry back on its feet. The idea of incentivising domestic tourism, opening travel bubbles between New Zealand and other ‘safe’ countries, and tasking the…

COVID Pushes New Zealand into Worst Recession in Years

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New Zealand fell into its deepest economic recession on record in the second quarter, due to the Covid-19 pandemic. Overall GDP declined by 12.2% within three months (April – June). This is New Zealand’s first recession since the global financial crisis hit in 2007. The impact of this recession has…

NZ Treasury Anticipates a NZ$1 Billion Blow

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Authorities expect the most recent nationwide lockdown, prompted by the return of new COVID-19 cases, to cost the NZ economy a billion dollars. BNZ bank economists estimate that the lockdown measure will impose a 1-2% impact on NZ’s 3rd quarter GDP. A spokesperson for the bank explained: “This estimate will…

Economy Expected to Perform Relatively Strongly in the Wake of COVID-19

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According to S&P Global, New Zealand is expected to recover from the economic strains of COVID-19 in a better position than most countries in the Asia-Pacific region and around the world. Due to New Zealand’s exceptional pandemic management and well-targeted economic stimulus, the global recession is expected to cause less…

New Zealand Announces Small Business Cash Flow Loan Scheme

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The government has introduced the Small Business Cash Flow Loan Scheme (SBCS) to assist businesses as the country re-opens. Even though most businesses can now operate as normal, many still face an uncertain future, and the SBCS is meant to ensure they can continue to operate. The scheme will be…