covidDollars and SenseNews

As COVID Recovery Begins, Australia Faces Worst Recession in 30 Years

Source: Swati Pandey Reuters, globalnews.ca, June 28, 2020

Many Australians are facing unemployment, and non-Australian’s are unable to access to Centrelink government’s welfare payments.

Coronavirus has done to Australia what even the global financial crisis couldn’t: abruptly end a record growth run and help trigger a deep recession from which the country will take time to recover.

While Australia has had great success so far in heading off the pandemic, with just over 100 deaths, the cure of shutting out the rest of the world means massive hits to three key growth drivers — tourism, education and immigration.

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