NSW-Vic border closure could 'knock' one per cent off national economy | Sky News Australia

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The impact of the New South Wales and Victoria border closure will be felt most in the sectors which were affected back in March and April, resulting in a weakened national economy, according to AMP Chief Economist Shane Oliver.

The border between Australia’s biggest states will close at midnight on Tuesday in a bid to contain the spread of the coronavirus. “Hospitality, retail and property markets are at the front line here,” Mr Oliver told Sky News. “And they’re going to feel the impacts the worst.

“And that’s going to have an impact nationally, as Victoria is about 30 per cent of the country’s economy. “Maybe the Victorian economy has recovered about two or three per cent of the big slump we saw in March and April. “But I suspect this will get those gains up again. “And that’s going to knock maybe up to one per cent off the Australian economy.”

 

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Sack Andrews.

So be it!

Margare37237673 The National economy line is Bullshit. The Government has the ability to fix it. They choose to buy missiles and pools and change rooms Rather than support their people. Covid is real ,Covid is spreading.😡

to little to late Victorians have crossed borders and invaded SouthCoast in high numbers ... Our towns are full of them ........... Borders should have been shut weeks ago auspol

The economy that counts (wages and jobs) was fucked anyway.

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