Question

Why Australian current account surplus increases during the covid-19? Please give evidence to explain and how the government do to reduce the impact.(your answer should be more than 300 words)

Answer 1

Answer-

Australia's current account surplus nearly doubled in the June quarter to a history-production $17.7bn in the midst of tumbling worldwide exchange volumes as the COVID-19 pandemic closed borders and smashed interest. The pandemic, until this point in time, has smashed imports harder than exports. Westpac economist Andrew Hanlan said.

Australia's exchange position has blast during the Covid-19 pandemic yet it won't stop the nation posting its first recession in 29 years.

The country's current account exchange surplus swelled to $17.7bn in the June quarter, contrasted and $9bn in the previous three months, Australian Bureau of Statistics information released on Tuesday shows.

Net exports are relied upon to add 1 rate highlight monetary development in the quarter.

The June quarter public accounts are expected for release on Wednesday.

Australia recorded its first current account surplus in 44 years in the second quarter of 2019 and stayed operating at a profit dark for the ensuing two quarters. There are indications it should stay close to adjust and could help stave off a minimization, as S&P Global Ratings recognized when it cut Australia's AAA FICO score viewpoint to negative this month.