New Zealand Drought Takes Grip On Economy

Radio Australia

It's been estimated a crippling drought gripping parts of eastern New Zealand is likely to cost hundreds of millions of dollars in lost production.

The drought is said to be the worst to hit the region in more than a century, while climate scientists say there's little chance it will break before the southern spring in August.

Farmers in southeastern regions of New Zealand's North Island and the South Island's east coast are the worst affected.

The drought has also affected fruit and wine production.

A survey by the National Bank says drought-related losses will total a half of one percent of the country's gross domestic product in the coming year...a figure put at 433 million Australian dollars.