{"id":16709,"date":"2020-04-01T13:31:16","date_gmt":"2020-04-01T04:31:16","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2020\/apr\/01\/virus-shock-to-new-zealands-economy-will-be-quantum-greater-than-gfc"},"modified":"2020-04-01T13:31:16","modified_gmt":"2020-04-01T04:31:16","slug":"virus-shock-to-new-zealands-economy-will-be-quantum-greater-than-gfc","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=16709","title":{"rendered":"Virus shock to New Zealand&#8217;s economy will be &#8216;quantum greater&#8217; than GFC"},"content":{"rendered":"<p>Finance minister warns the nation unemployment will be worse than that during the fallout from 2008<\/p>\n<ul>\n<li><a href=\"https:\/\/www.theguardian.com\/world\/series\/coronavirus-live\/latest\">Coronavirus \u2013 latest updates<\/a><\/li>\n<li><a href=\"https:\/\/www.theguardian.com\/world\/coronavirus-outbreak\">See all our coronavirus coverage<\/a><\/li>\n<\/ul>\n<p>New Zealand\u2019s finance minister has warned the nation is facing an economic shock \u201ca quantum greater\u201d than that of the 2008 global financial crisis, with jobless numbers likely to exceed those at the time of the meltdown.<\/p>\n<p>\u201cGDP is going to take a serious hit, as will unemployment,\u201d Grant Robertson told a parliamentary committee set up to scrutinise his government\u2019s actions on the Covid-19 pandemic on Wednesday. He added that he could not yet provide specific forecasts for either measure, which he said were being finalised by the Treasury.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2020\/apr\/01\/virus-shock-to-new-zealands-economy-will-be-quantum-greater-than-gfc\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance minister warns the nation unemployment will be worse than that during the fallout from 2008Coronavirus \u2013 latest updatesSee all our coronavirus coverageNew Zealand\u2019s finance minister has warned the nation is facing an economic shock \u201ca quantum g&#8230;<\/p>\n","protected":false},"author":569,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[41,1069,56,42],"tags":[],"class_list":["post-16709","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-coronavirus-outbreak","category-new-zealand","category-world-news"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/16709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/569"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16709"}],"version-history":[{"count":1,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/16709\/revisions"}],"predecessor-version":[{"id":16710,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/16709\/revisions\/16710"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}