The coronavirus pandemic has brutalised Australia's economy as lockdowns are tipped to bring major financial downturns this calendar year, a new report has found.
The country's economy is expected to shrink by an overall three per cent, however Victoria's economic output alone will fall by 3.5 per cent, followed by Tasmania and Western Australia, the Deloitte report says.
"Even though this is turning out to be a better year than expected, it's still a shocker," Chris Richardson from Deloitte Access Economics told 9News.
Read more: https://www.9news.com.au/national/coronavirus-australia-economic-fallout-victoria-hit-hardest-financial-report-federal-politics-news/8360c190-1a37-4e05-9166-de49ba6d80f4
The country's economy is expected to shrink by an overall three per cent, however Victoria's economic output alone will fall by 3.5 per cent, followed by Tasmania and Western Australia, the Deloitte report says.
"Even though this is turning out to be a better year than expected, it's still a shocker," Chris Richardson from Deloitte Access Economics told 9News.
Read more: https://www.9news.com.au/national/coronavirus-australia-economic-fallout-victoria-hit-hardest-financial-report-federal-politics-news/8360c190-1a37-4e05-9166-de49ba6d80f4
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