Australian bushfires will be a 'big drag' on growth, says economist

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The bushfires across the states of Victoria and New South Wales threaten to slow down the Australian economy, said the chief economist at BetaShares Capital.

Australian Prime Minister Scott Morrison and his conservative government have faced much criticism for not doing enough to address the climate issues domestically and internationally. On Monday, the prime minister announced that his government will be committing $2 billion Australian dollars over two years to bushfire recovery, Reuters reported.

"Even before the fires, I thought they would cut another two times given the weakness of the economy," the economist said. "A cut in February is still very, very likely and then a cut within the next few months. Beyond that, what they've said is that they probably don't want to go beyond 0.25% which is very close to zero."

 

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Are you sure... because the president said it was the Chinese. ClimateCrisis

Get this.. creepy JoeBiden blamed the fires in Australia on realDonaldTrump ... Do you understand what that means!?!? This is the LEADING Democrat for President. And Where's John Kerry? WheresJohnKerry

The Final Countdown - World Wide Wildfires Edition 'One death is a tragedy; a million is a statistic.” Joseph Stalin; Soviet Premier (1941-1953.) Considered one of the most notorious figures in history What would realDonaldTrump call 100 million fatalities? AustraliaBurns

More easing then

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