Fiscal stimulus is almost the world’s biggest

Original article by Matthew Cranston
The Australian Financial Review – Page: 7 : 7-May-20

Analysis by BIS Oxford Economics shows that 46 advanced and emerging countries have spent a combined US8trn ($13trn) on direct stimulus measures in response to the coronavirus pandemic. Qatar tops the list, with its stimulus measures equating to 13 per cent of GDP; it is followed by Australia and Thailand, with stimulus worth 10.6 per cent and 8.9 per cent of GDP respectively. Gabriel Sterne of BIS Oxford Economics says Australia’s stimulus package was much bigger than the firm had expected, and he notes that the nation was in a strong fiscal position at the onset of the pandemic.


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