Photo: Getty ImagesThe Treasury's opening of the Government's books ahead of the election reveals a better picture of the economy right now than had initially been expected. "These are signs that the New Zealand economy is robust," Robertson said this afternoon. Today's numbers also reveal the Government's deficit this year is lower than expected; $23 billion in the red as opposed to the $28 billion revealed in May's Budget. Covid-19 is still expected to take a significant toll on the economy, but that toll – according to the Treasury – is not as bad as expected. But, in the long term the hit will be worse than had previously been expected – this is due to the fact the world economy is expected to do worse than had been expected.

Source: Otago Daily Times September 16, 2020 00:56 UTC