WELLINGTON (Reuters) -- New Zealand is expected to bounce back sooner from the impact of COVID-19 than previously thought, but large deficits and rising debt levels will have a lasting effect on the economy, the government said on Wednesday.
The country's Treasury department predicted the budget deficit for the 2020/21 fiscal year to be NZ$21.58 billion, NZ$10.1 billion smaller than forecasts made in September.
