Virus stimulus won’t block recession, economists say

The government’s $17.6 billion virus stimulus package will not save the country from falling into a recession, economic experts have said, with some anticipating the government will need to develop a second package alongside quantitative easing.

by Shared by the ifa | 15 Mar, 2020

The package launched on Thursday morning, alongside the $2 billion drought and bushfire relief from earlier this year is worth around 1 per cent of Australia’s GDP and will mostly be occurring between March and June, in the government’s attempt to dodge negative growth for the June quarter.