July 20, 2020 / 4:27 AM / 16 days ago

NZ economy doing better than expected, finance minister says

WELLINGTON, July 20 (Reuters) - New Zealand’s economy is currently doing better than predicted due to the country’s early economic and health response to the COVID-19 pandemic, the finance minister said on Monday.

“The economy is doing better than expected and is more open than anywhere else in the world,” Grant Robertson said in a news conference.

Robertson also said NZ$14 billion ($9.16 billion) from a COVID Response and Recovery Fund that was announced in the annual budget earlier this year will now be set aside in the event the country experiences a second wave of infections. ($1 = 1.5277 New Zealand dollars) (Reporting by Praveen Menon; Editing by Himani Sarkar)

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