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the fiscal policy response of Australia to the pandemic

the fiscal policy response of Australia to the pandemic

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Expert Solution

Australia's response to the coronavirus pandemic is the increased government's budget. The primary response is to the virus is to manage the health of the population, but other arms of policy also play an important role in reducing the economic & financial disruption resulting from the virus.

Australia has been in a recession throughout the year 2020, partly due to drought & wildfires that preceded the pandemic. Lot of spending ( government expenditure) has been done in pandemic relief measures to save jobs & businesses. The Reserve Bank is working closely with the Australian Government, the Australian Treasury & Australian financial regulators on the coordinated response to COVID-19. The financial regulators are examining how the timings of various regulatory initiatives might be adjusted to allow financial institutions to focus on their businesses & work with their customers.

Rahul Sunny answered 2 years ago
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