New Zealand has managed the COVID-19 outbreak with relative success, in terms of containing infection rates and deaths. This has seen New Zealand move down alert levels over the past few weeks as we achieved zero active cases, with restrictions relaxed but the border closed. However, the impact of the outbreak on the economy is undeniable. The effects have also been uneven across the industries, and this will affect the recovery ahead. We assess the policy implications and key considerations for Government spending as we gear up for this recovery.