Macquarie Group chief executive Shemara Wikramanayake says Australia’s economic recovery from the COVID-19 crisis is world-beating despite the slow vaccine rollout, and she hopes international borders can re-open next year.
“Despite the ongoing risks the Australian economic recovery continues to lead the world, with medical success allowing the government to re-open much of the economy”: Macquarie Group chief executive Shemara Wikramanayake“Following one of the largest economic shocks since the 1930s, the global economic recovery is now well underway, with GDP likely to expand by a rapid 5.5 per cent over the course of this year.
“Despite the ongoing risks the Australian economic recovery continues to lead the world, with medical success allowing the government to re-open much of the economy,” she said. Macquarie will deliver its annual results on Friday, with markets expecting a profit of about $2.95 billion, close to its highest ever. The bank’s share price has doubled from its lows of last year, and was trading at $160.50 on Tuesday morning. National Australia Bank and ANZ Bank will also report their profits this week,
clancyyeates My recovery suffered a backslide after re-engaging with MacquarieBank MacquarieBankAndSuicide!
clancyyeates Ridiculous. It’s China’s economic recovery leading the world!
clancyyeates Don’t let china hear that.
clancyyeates Forward orders strong till September then it drops off dramatically after October.
clancyyeates No thanks to the Morrison Government State premiers have done all the heavy lifting
clancyyeates She actually said “The US is likely to lead the way in 2021… but Australia is still expecting to this year outperform most other countries” but don’t let that get in the way of your headline
clancyyeates So why is our stock market so far behind the USA?
clancyyeates Are you kidding me😅🙄?! Be honest
clancyyeates Macquarie thief?
clancyyeates Shut up SMH, shouldn't you be busy investigating private conversations with Defence generals, beating those drums of war? Or busy telling us that Morrison isn't racist but just does racist things?
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Australia stages ‘world leading’ fiscal recovery after being hit by ‘economic meteor’ | Sky News AustraliaTreasurer Josh Frydenberg has likened the financial impact of the coronavirus to an “economic meteor” during his post-budget address before the National Press Club.\n\nIt comes after Mr Frydenberg handed down his government’s budget on Tuesday night with a sharp focus on lowering the unemployment rate by creating 250,000 new jobs.\n\nTreasury revealed a post-coronavirus jobs boom will wipe $53 billion from the forecasted budget deficit, lowering the predicted deficit to $161 billion.\n\nMr Frydenberg said quick action through the introduction of the JobKeeper subsidy saved thousands of jobs throughout the pandemic.\n\n“We've prevented a generation of Australians being lost to long-term unemployment,” he said.\n\n“We acted. We acted decisively, and now Australia is ahead of global pack.”\n\nMr Frydenberg said he could never have anticipated the emergence of the coronavirus and the response required to keep the country safe and economically viable.\n\n“When I took on the role of Treasurer, I couldn't have expected or dreamed of the fact that I would be standing here having just announced the budget that I did last night,” he said.\n\n“Nobody could have envisioned that we would go through a once-in-a-century pandemic and the biggest hit to the Australian economy since the Great Depression.\n\n“Australia has been hit by an economic meteor.”\n\nThe treasurer said while the world was still in the grip of the global pandemic Australia had recovered quickly from the financial hit.\n\n“75,000 more Australians are in a job today than when this crisis first hit,” he said.\n\n“I'm very confident that we have taken the right decisions to support the economy.”\n\nSpeaking of the management of the economy moving forward, Mr Frydenberg said it was important the government did not take its “foot off the accelerator”.\n\n“This budget was not a time for austerity. We couldn't take our foot off the accelerator. We had to consolidate the gains,” he said.\n\n“Unless people in this room a JoshFrydenberg Really? The one before COVID-19 must have been massive then. JoshFrydenberg But we're yet to see the full global financial impact of the pandemic !! I guess the Canberra bubble has extended to the Australian borders!
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Australia’s economic recovery leading ‘the pack’ of global advanced economies | Sky News AustraliaTreasurer Josh Frydenberg has touted Australia’s world-leading economy recovery at his post-budget address before the National Press Club.\n\n“Australia is well on the road to recovery,” he said.\n\n“In response to the greatest economic shock since the Great Depression, we have now put in place an unprecedented $291 billion of direct economic support. \n\n“Extraordinary times have called for extraordinary measures.”\n\n'As John Howard said to me on the eve of the announcement of JobKeeper, ‘During times of economic crisis, there are no ideological constraints’.”\n\nThe Treasurer pointed out Australia had outperformed every major advanced economy in the world over the last 12 months.\n\n“The results are now clear. Our economy is coming back strongly”.\n\n“Australia's recovery is at the front of the pack.\n\n“Consumer confidence is at an 11-year high. Business confidence is at a record high. And almost 1 million jobs have been added since the peak of the crisis.” \n JoshFrydenberg What a massive load of shit that is! JoshFrydenberg Australia...not the LNP. It was mass sacrifice of personal liberties during lockdown by the Australian people. Across all political spectrums. This is our success. Not the politicians. JoshFrydenberg Yeah ok CLOWN
Source: SkyNewsAust - 🏆 7. / 78 Read more »