New Zealand's Finance Minister: Jobless rate set to become significantly worse

New Zealand's unemployment rate is set to become significantly worse over the coming months, New Zealand's finance minister Grant Robertson said on Thursday. 

Economists expect New Zealand’s economy to contract by as much as 10%, pushing the jobless to levels not seen in almost 30 years due to the coronavirus outbreak, according to Bloomberg. 

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The government is able to issue new debt and the bond market continues to work.