Tasmania expected to recover well from COVID-19

A report prepared by Deloitte for December 2020 has confirmed that the Governments plans to rebuild a stronger Tasmania are working.

The report estimates strong economic growth for Tasmania of 3.4 per cent in the 2021 calendar year, which is commensurate with or higher than four other jurisdictions, while also estimating employment growth of 0.6 per cent in 2020-21.

β€œThe report notes the improved outlook has been driven through the strong and early measures we implemented to control the COVID-19 pandemic, as well as the record State and Federal Government stimulus measures, which have generated relative strength in the housing market, strong retail trade rebounds, and public spending on infrastructure.” Stated Premier for Tasmania, Peter Gutwein.

β€œThe report also mentions our recent achievements on the renewables front, including becoming 100% self-sufficient in late 2020 and progressing the Battery of the Nation and Marinus Link projects, both of which will generate large amounts of economic activity for the State.”

The report noted that due to record low interest rates, and government stimulus measures, the housing market was looking remarkably good.

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