New Zealand's unemployment rates can be kept below 10% and the economy can bounce back to be NZ$70 billion ($42.62 billion)larger by 2024 than in 2019, the finance minister said on Monday after the treasury released its economic forecasts.
The treasury report shows the extra government spending announced in the last few weeks will cushion the blow by protecting jobs and supporting businesses.
New Zealand's wide-ranging lockdown measures have seen offices and schools shut and all non-essential services closed for the last three weeks.
The country has recorded five deaths from the coronavirus and the number of cases are at 1349.
(Reporting by Praveen Menon; Editing by Chris Reese)
