
Australia Loses $2.5b Weekly To Virus Shutdown
Australia is losing US$2.5 billion every week its virus shutdown continues, according to figures announced Tuesday.
A million workers have also lost their jobs.
Treasurer Josh Frydenberg said the restrictions on movement and gatherings were dealing a heavy blow to the economy.
“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 a reduced workforce participation, reduced productivity, and reduced consumption,” he said in a speech in Canberra.
Read Also: China Envoy Threatens Australia Boycott Over Virus Claims
Frydenberg revelation came …















