New Zealand Prime Minister Jacinda Ardern unveils the nation’s US$2.5 billion ‘wellbeing’ budget that focuses on mental health and child poverty.
The budget increases the annual operating allowance for new spending to NZ$3.8 billion per year over the four-year forecast period, from a forecast NZ$2.4 billion in the previous budget. GDP was forecast at 3.2% in fiscal 2020, and was seen averaging at about 2.6 percent over the forecast four-year period.
Ardern, the popular 38-year-old Prime Minister, came to power in 2017 with an agenda of social justice and promising to make the economy “work for all New Zealanders”.
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