New Zealand Finance Minister: Unemployment Rate Could Reach 5.7% in Worst-Case Oil Price Scenario

New Zealand's Finance Minister has indicated that the Treasury forecasts a potential rise in the unemployment rate to 5.7% in the 2025/26 fiscal year if oil prices reach a worst-case scenario of $180 per barrel. According to Jin10, this projection is part of a broader analysis of the economic impacts of potential conflicts involving Iran, which could significantly affect global oil markets. The forecast underscores the potential economic challenges New Zealand may face if geopolitical tensions lead to substantial increases in oil prices.