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Significance
Australia is battling COVID-19, which has necessitated social and economic lockdowns which have hit the economy. Parliament passed the budget measures on October 9, with little opposition.
Impacts
A premature withdrawal of stimulus policies could reduce business hiring and add to private debt.
The failure of Australia’s states to agree on a national strategy for reopening borders will delay economic recovery.
Immigration curbs will remove a key growth driver and could cause a net loss in population.
Keywords:
economy,
fiscal,
health,
industry,
debt,
defence,
education,
employment,
food,
growth,
immigration,
infrastructure,
labour,
pensions,
renewable energy,
space,
telecommunications,
transport,
water,
welfare,
Agribusiness & food,
Energy,
Aerospace & defence,
Infrastructure,
Travel & tourism,
Healthcare,
Technology, Media & Telecommunications,
Utilities,
Australia,
AP
© Oxford Analytica 2020. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2020
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