Business
China dispute threatens Australia’s economic recovery: OECD – Sydney Morning Herald
The OECD has upgraded its forecasts for the Australian economy while warning a dispute with China could delay the nation’s recovery.
Despite the better forecast, the Australian economy is still not tracking to return to its pre-pandemic level until 2022.
The improvement is due to the avalanche of government support such as the JobKeeper wage subsidy and Reserve Bank support through its decision to cut interest rates and buy government bonds.
The organisation expects unemployment to average 6.8 per cent this year before lifting to 7.9 per cent through 2021.
The OECD said the re-opening of the Victorian economy and the large amount…
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