• Western Australian economy resilient in face of COVID-19

    Industry Insights by ECi Executive
    posted in Economy


Western Australian economy resilient in face of COVID-19

Western Australia records better economic results in 2019-2020 underpinned by the State’s hard border and strong COVID-19 response. The only state to experience economic growth in 2019-20 as Business investment grew by 9.3 percent, the strongest growth in eight years.
The states hard border and strong COVID-19 response has buttressed the local economy to post the strongest economic growth of 1.1 percent.

The figures released by Australian Bureau of Statistics show that WA confronted the pandemic from a position of strength, with a growth in the State’s domestic economy. This growth was underpinned by strong business investment, with a growth of 9.3 percent, driven in part by the mining sector.

The economic results demonstrate the importance of hard border closure for protecting not only the health of Western Australians but also the local economy.

The McGowan Government continues to implement its $5.5 billion Recovery Plan to drive WA’s economic and social recovery across different sectors throughout the whole State, to ensure we can recover, stronger than ever.

Source: Link
Date: 02 Sept 2020

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