Australia: Economic recovery plans made as coronavirus lockdown is eased

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On Tuesday, Scott Morrison, Australias Prime Minister, will discuss the plans of his government to restore the destroyed economy, although it is expected to take three to five years for a full economic recovery from the coronavirus pandemic.

In Australia, just over 7,100 COVID-19 infections have been confirmed at the time of writing, with 102 fatalities being confirmed, much lower than other countries that are reporting hundreds of new infections and fatalities daily.

On Tuesday, Morrison will turn to how to revive the economy of the country as debt levels rise to about 30% of GDP.

Earlier this month, the central bank predicted that the A$2 trillion Australian economy would contract by 10 percent in the first half of the year, representing the first recession in three decades.

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