The Australian Government’s budget, released on 6 October 2020, concedes that an economic decline will be hard to avoid over the remainder of this year, reflecting the impacts of the lockdown necessary to combat COVID-19. Real GDP is expected to fall by one and a half percent in 2020-21. The economy is then projected to turnaround and achieve growth of four and three-quarter percent in 2021-221.
- Kerry Barwise
- Economic & Financial Consulting
- October, 2020