Coronavirus recession? Expert modelling shows Australian economy could take huge hit
by Ben Butler from Economics | The Guardian on (#505CM)
Warwick McKibbin, who has modelled previous pandemics, says GDP could fall in a worst-case scenario by nearly 8%
The Australian economy could be plunged into recession if the coronavirus outbreak goes global, with as much as 8% carved from growth over a year, according to new modelling by the economic expert Warwick McKibbin.
McKibbin, whose previous work on the economic impact of disease includes examining the impact of the 2002 Sars pandemic, has modelled the effects of a range of Covid-19 infection scenarios on growth in Australia and around the world.
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