June 18, 2020 / 1:02 AM / 16 days ago

New Zealand to feel biggest economic impact in June quarter, finance minister says

FILE PHOTO: New Zealand's Finance Minister Grant Robertson speaks about the "wellbeing" budget in Wellington, New Zealand, May 30, 2019. REUTERS/Charlotte Greenfield

WELLINGTON (Reuters) - New Zealand’s finance minister said on Thursday that the biggest economic impact from COVID-19 restrictions will only be seen in the June quarter, after the country reported gross domestic product contracted in the first three months.

“The biggest impact of the global recession and Alert Level 4 public health restrictions will be seen in the current June quarter,” Grant Robertson said in a statement.

Reporting by Praveen Menon; Editing by Kim Coghill

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