Coolabah Capital portfolio manager Chris Joye published an article in The AFR highlighting the giant contribution of government spending to Australia’s post-COVID economy.
A gigantic government cash splash has helped. In fact, a remarkable 63% of all Australia’s economic growth since December 2019 has been driven by the public, rather than private, sector.
Expressed another way, 53% of all jobs created since 2019 have been attributable to government agencies rather than private firms.
