Economic cost of bushfires estimated at $2 billion and rising

Original article by Jessica Irvine
The Age – Page: Online : 7-Jan-20

Terry Rawnsley of SGS Economics & Planning estimates that the bushfires will reduce national gross domestic product by about 0.15 per cent in 2019-20. He adds that the economic cost to bushfire-affected regions will be within the range of $1.1bn to $1.9bn. Meanwhile, Shane Oliver of AMP Capital says the bushfire crisis is likely to reduce national economic output by between 0.25 per cent and 1 per cent, while economist Saul Eslake still expects the federal government to deliver a Budget surplus for 2019-20.

CORPORATES
SGS ECONOMICS AND PLANNING PTY LTD, AMP CAPITAL INVESTORS LIMITED

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