Australia 'well-placed' to weather economic crisis, says Macquarie CEO

Macquarie Group chief executive Shemara Wikramanayake says Australia's economy is well positioned to get through the coronavirus crisis in the longer-term, citing government support, links to Asia, and a recent flurry of capital raisings by big business.

Macquarie chief executive Shemara Wikramanayake:"Australia is well placed to weather this challenging environment in the long-term."Speaking to investors via a webcast on Tuesday morning, Ms Wikramanayake said the world economy faced a recession, but fundamental forces such as technological change and urbanisation would re-emerge as longer-term drivers of growth after the crisis passed.

Macquarie, which reports its annual results on Friday, is a global powerhouse in infrastructure financing, and Ms Wikramanayake also highlighted the government's pledge to throw $100 billion into infrastructure investment over the next decade. Mr Stevens, now a non-executive director of Macquarie, told the same event that in the coming months, policy-makers faced the difficult balancing act of needing to re-open swathes of the economy while managing the health crisis.

clancyyeates Looks like Shemara needs some sleep

clancyyeates Ask all those small business owners who have lost everything how they are doing Shermara.

clancyyeates Gender hire.

clancyyeates In light of this considered opinion, it will be interesting to see if the Government still pushes ahead with the easing of restrictions to reboot the economy. Going too early is a risk that cannot be measured in economic terms- Australian lives, not livelyhoods!

clancyyeates Sure...if you didn't run one of the thousands of small businesses wiped out, never to return.

clancyyeates Might be a different story if Bill Shorten had won the election

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