Скачать или смотреть Australia only advanced economy to have its outlook upgraded by IMF

Australia is the only advanced economy in the world to have its outlook upgraded, after the International Monetary Fund (IMF) revised initial forecasts.

The IMF said Australia’s economy was expected to contract by 4.5 per cent, revised down from 6.7 per cent.

The IMF also projected a "deeper recession" in 2020 than initially expected with a "slower recovery" in 2021, announcing the global economy is set to take a $17 trillion hit from the coronavirus pandemic.

InvestSMART’s Evan Lucas told Sky News “it’s still a big contraction, that’s quite a recession”.

“But it is better, [the IMF] certainly allude to our ability to have suppressed the disease as fast as we have.

“Also our overall economic impact has not been dramatic as expected, due to the fact our lockdowns weren’t as hard.”

Image: Getty