Australia's gross domestic product is expected to fall 10% in the 2nd quarter of 2020. coronavirus
"For every extra week that the current restrictions remain in place, the Treasury estimates that close to $4 billion will be reduced in economic activity, from a combination of...reduced workforce participation, reduced productivity, and reduced consumption," he said.
Australia has recorded more than 6,800 cases of COVID-19 and 96 deaths. Despite progress in some parts of the country, large clusters of cases have emerged at an abattoir in Melbourne and a Sydney care home.
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