June 04, 2020

Anna Murray 

Amid bushfires and Coronavirus pandemic in Australia, the national GDP from the Bureau of Statistics indicate Australia's economy has shrunk 0.3% in the first 3 months of the year 2020. The GDP figures also showed Australia's economy has fallen into its first recession in 29 years.

According to the official report, the bushfire crisis has killed 33 people and torched more than 11 million hectares (1 hectare equals 10,000 square meters) of land since September of 2019.

The country's economy and public spending were on the decline amid the COVID-19 shutdown and social distancing that GDP figures would continue to shrink in the April-to-June period. However, Australia’s government has taken actions in economic stimulus efforts to fuel economic growth in Australia.