The NSW economy is on the rebound. But experts caution the state government’s decision to ease pandemic restrictions has heightened the risk of another setback | MattWadeSMH
The NSW economy is ending a rollercoaster year on a high but prominent economists warn the Perrottet government is putting the recovery at unnecessary risk by prematurely withdrawing COVID-19 restrictions.
“One of the great lessons from last year is that you can’t have a functioning economy with an out of control pandemic.”Last Wednesday the Perrottet government relaxed mandates for masks, check-in requirements, and gathering density limits.But Professor Holden said the extra consumer caution likely to result from those changes had come at a bad time.
The government’s half-yearly budget review, released last Thursday, said the state was “set to rebound strongly” and predicted economic activity to return to pre-Delta levels by March. However, the review also warned the Omicron variant added “significant additional uncertainty” to the outlook.
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