Economics
Worst New Zealand Drought in 30 Years Weighs on Economic Growth
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New Zealand is experiencing its most widespread drought in at least 30 years, the government said today, as dry conditions across the North Island threaten economic growth and cause global milk prices to rise.
“Nearly all farmers in every part of the North Island are facing very difficult dry conditions,” Minister for Primary Industries Nathan Guy said in a statement. It’s the first time in at least three decades the entire island is suffering from drought, his spokesman Phil Rennie said by telephone.