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Australia warns that the new restrictions due to COVID-19 will be a “heavy blow” to the economy

August 6, 2020

Australian Prime Minister Scott Morrison warned Thursday that the new restrictions imposed in the state of Victoria amid a rebound in coronavirus cases will represent a “heavy blow” to the country’s economy.

In a press conference, the president complained that the tightening of measures due to the pandemic could lead to a sharp decline in gross domestic product (GDP). “This is a very severe blow to the economy,” he said.

Morrison said the restrictions, which were imposed on Tuesday and will run through September 13, “could see GDP shrink 2.5 percent in the next quarter”.

Australia warns that the new restrictions due to COVID-19 will be a “heavy blow” to the economyAustralia warns that the new restrictions due to COVID-19 will be a “heavy blow” to the economy

It has been suggested that unemployment could rise, including those who are not looking for work or part-time workers. That increase could range from 250,000 to 400,000 people, as stated.

Victoria State Prime Minister Daniel Andrews has reported that there have been an additional 471 new cases in the state and eight deaths. This means that 13,469 infections and 170 deaths have been registered in the region since the beginning of the pandemic. Nationwide there are 255 dead and around 20,000 infected.

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