Finance Minister Nicola Willis outlines how the Iran conflict and global oil market volatility are delaying but not derailing New Zealand's economic recovery, presenting three scenarios to assess potential impacts on inflation, growth, and the cost of living.
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Yeah, well, what's the significance of growth falling back to two percent? Because I saw that finance minister Nicola Willis was kind of giving through the IMF scenario. So they came up with a separate list of scenarios and basically a severe one, which. which would see greater damage to energy infrastructure in the Middle East would see global growth reducing to about 2%. And the IMF says that this would mean a close call for a global recession, which it defines as the growth rate being below 2%. And that's only happened four times since 1980, a couple of them recently in recent memory, obviously the pandemic and the global financial crisis. So is it really? I mean, is it concerning that the best case scenario is us floating around that 2% growth figure?
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best-case forecasts still near recession threshold
How Iran’s war and oil shock could hit inflation, interest rates and jobsSpotted something wrong on this page? Report a correction.
