Hon GRANT ROBERTSON (Minister of Finance): Mr Speaker, fa'afetai lava. Malo le soifua. Overnight, the OECD released its latest global economic outlook, including for New Zealand. The OECD expects the New Zealand economy to be a relatively strong performer through the pandemic, with a small impact in 2020 and a solid recovery. It forecasts growth of 3.5 percent in 2021 and 3.8 percent in 2022, in line with the Budget update, driven by solid household consumption, rising investment in infrastructure, and gradual increase in tourism as the borders reopen. By the end of the forecast period, New Zealand's growth rate of 3.8 percent is expected to outperform most of the countries we compare ourselves to: Australia at 3.4 percent, Japan 2 percent, the United States at 3.6 percent, while Canada matches New Zealand at 3.8 percent. However, the OECD warns that before the improved outlook, challenges remain. Global activity is picking up but the recovery is uneven, with a lot of frictions.