Economic Implications and Outlook

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ASIC releases guidance on COVID-19 financial reporting

On 28 April, ASIC released guidelines on financial reporting and audit matters that are a must-read for all directors.

IMF warns ‘The Great Lockdown’ will trigger the worst global recession since the 1930s

The IMF thinks that the baseline scenario for the world economy is a three per cent contraction this year. That would make the Coronavirus Crisis (CVC), or the Great Lockdown to use the IMF’s ph...

Governing in slow growth economic times

How can boards prepare for and manage economic crises.

Australian businesses suffer, global service sectors shrink, director sentiment at record low

ABS survey data suggests that by the end of last month around two-thirds of Australian businesses were reporting that their turnover was suffering due to the impact of the coronavirus crisis (CVC), al...

Canberra rolls out massive fiscal support as the Coronavirus Crisis (CVC) crunches the global econom...

The government’s new JobKeeper payment combined a huge fiscal commitment of $130 billion with an equally radical policy commitment to try to keep Australians in work. Economists are now looking nervo...

Coronavirus wage subsidy scheme: what you need to know

The Federal government has announced $130 billion in wage subsidies to halt the unemployment spiral caused by COVID-19.

Economic indicators plummet at a rate exceeding that of the Great Recession

Last week, we noted that the extent of financial market turmoil was reminiscent of the global financial crisis (GFC). This week we’ve seen increasing numbers of forecasters suggest that the Coronavir...

RBA goes unconventional as COVID-19 crises prompts radical policy responses

The economic impact of COVID-19 is unfolding through a series of interconnected crises. In the real economy these will take the form of vicious demand and supply shocks. Although these are now appeari...

Issues facing the Australian economy in 2020

From the COVID-19 outbreak to globalisation, AICD chief economist Mark Thirlwell discusses the wave of issues influencing Australia's economic landscape.

How coronavirus is impacting the economy

As more of the economy shuts down, AICD Chief Economist Mark Thirlwell looks at how bad the COVID-19 crisis could get on this week's Dismal Science podcast.
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