Josh Frydenberg warns of 'significant impact' of coronavirus on economy

he expects the bushfires to cut GDP across the December and March quarters by 0.2 percentage points while the drought is likely to reduce growth by a quarter percentage point through 2020.Dr Lowe faces the House of Representatives economics committee on Friday where he is likely to be questioned about both the virus and bushfire impacts.Some business owners say they have lost around 95 per cent of their business as China stops buying live seafood like fish, crab and lobster.

"We should be enjoying a good boost to the economy with the Chinese New Year and tourists coming through; that hasn't happened."Luis Ascui Mud crabs, which normally fetch a price of around $60 a kilogram at the Sydney Fish Markets have slumped to $11 a kilogram making it unviable for fishermen, and operators."You can't afford to work at those levels. It's absolutely heartbreaking to see. The flow on from that is immense - you have bait suppliers fuel suppliers, marinas and families being affected. It's hard to calculate the cost of where it will end," Ms Einersen said.

Source: Financial Digest (financialdigest.net)

swrighteconomy jekearsley Here's why we can't meet the surplus predictions that got us elected! 🥴😵🤮

swrighteconomy jekearsley Yes, we already worked that out, bright boy.

swrighteconomy jekearsley So can we slip into the recession we have to have?

swrighteconomy jekearsley coronavirus, AustraliaBurning, sportsrorts, LNPCrimeFamily, ScottyfromMarketing etc have damaged the Australian economy and society JoshFrydenberg

swrighteconomy jekearsley Oh that's our Josh alright. Always about money.

swrighteconomy jekearsley Of course he would using this, & fires, as reason for budget blowout 'phew that was close nearly had to admit I don't know what I am doing' says fraudenberg

swrighteconomy jekearsley ANZ and AMP Capital warned the combined impact of the coronavirus outbreak and the bushfires could see the economy record a negative quarter of growth Cancel tax cut n scrap neg gearing on more than 1 prop

swrighteconomy jekearsley Thanks so much Einstein Fraudenberg

swrighteconomy jekearsley Oh No! Does that mean we shall have to live within our means ...

swrighteconomy jekearsley Hey JoshFrydenberg, remember when your pathetic government did this?

swrighteconomy jekearsley He didn't give Labor a pass for the GFC. Why should we give him a pass for something a lot less serious?

swrighteconomy jekearsley Well isn't that Great. We sell our soul to China; and this pathetic lot cry doom. Yours and previous governments should hang heads in shame on how you have allowed us to be run and populated by a Communist regime.

swrighteconomy jekearsley If only Australia had a well funded manufacturing sector instead of huge handouts to mining auspol If only climate policy protected our environment to encourage tourism and mitigate ClimateCrisis MorrisonFires

swrighteconomy jekearsley If only we had a few million in reserve ...oh wait frankingcredits sportsrort christmasisland

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