Posted.
April 14, 2020 22: 31:51
Australia’s economy is expected to shrink dramatically this year as the worldwide economy suffers its worst economic crisis given that the Great Anxiety.
Bottom line:
- Australia’s economy will likely be one of the worst-hit economies in the Asian region, shrinking by 6.7 per cent this year
- The IMF is tipping the global economy will diminish by 3 percent this year, however advanced economies will fare even worse, falling by 6.1 per cent in 2020
- The domestic economy will rebound by 2021, with growth of 6.1 percent
The International Monetary Fund (IMF) has actually warned Australia’s economy would likely be among the worst-hit economies in the Asian region as the international neighborhood struggles to contain the spread of the coronavirus.
The IMF’s newest projections, consisted of in its upgraded World Economic Outlook, paint an alarming picture for growth and unemployment