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New Zealand lowers growth forecast

12-15-2010 09:40 BJT

New Zealand cut its growth outlook and increased its borrowing target for the coming year. It's because economic activity has shown to be weaker than expected.

The government's half-year economic and fiscal update shows large budget deficits on the short term, due mostly to the lasting effects of recession. But it also expects it will return to surplus in 2015.

Editor:Xiong Qu |Source: CNTV.CN

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