Business
Western Australia’s economy should recover quickly, thanks to a strong iron ore price – ABC News
Western Australia’s economy should recover quicker than other states, thanks to a stronger than expected price of iron ore.
Western Australia’s economy should recover from the economic hit of COVID-19 quicker than other states, thanks to a stronger than expected price of iron ore, analysts believe.
Key points:
- The iron ore price has so far sat above $US100 per tonne in the 2020/21 financial year
- For every $US1/t the price sits above $US65/t, there is an $80 million benefit to the WA budget bottom line
- Increased dividends and wage growth in the mining sector could be seen as a result
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