The latest Deloitte Access Economics Business Outlook report declares the coronavirus has taken a sledgehammer to Australia’s economy, with no state or territory left unscathed.
Victoria is the hardest-hit state so far, with renewed lockdowns forcing the state’s economy to stagnate.
Deloitte economist Chris Richardson says despite the myriad challenges posed by the sharp economic downturn, Australia’s crisis should be viewed in a global context.
And that in these uncertain times, an increased safety net will give Australian families the confidence to participate in the national economy.
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