UBS: Australia facing 10% GDP wipeout, Depression
Via the excellent George Theranou at UBS: Fiscal stimulus of $75bn, or 3.7% of GDP so far; but only 1.5% of GDP is in Q2 The total Government (Federal + State) fiscal stimulus, so far, is ~$75bn, or ~3.8% of (2019) GDP – but only ~$31bn (or 1.5% of GDP) in Q2-20.