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Coronavirus to have serious economic impact in the short term: New Zealand finance minister

[WELLINGTON] The coronavirus outbreak will have a serious impact on New Zealand's economy in the short term, and the government may need step in if it leads to a global pandemic, the country's finance minister said on Thursday.

Prime Minister Grant Robertson said if the virus outbreak becomes a global pandemic that in turn creates a worldwide downturn or recession, then it may be necessary to consider immediate fiscal stimulus to support the economy.

Mr Robertson was speaking at an event in Auckland that was shared with the media.