InstaForex

August 23, 2021

Australia Determined to Reopen Economy Despite Covid-19 Rise

 Australian Prime Minister Scott Morrison urged the country to stick to plans to reopen the economy by starting to loosen strict coronavirus restrictions as vaccination rates rise.


Previously, several states stated that they may not be able to comply with state plans to relax sanctions measures following concerns over growing coronavirus cases.


Speaking at a press conference today in Canberra, Morrison told that the closure move cannot continue indefinitely. This is not a sustainable way to live in this country.


He added that the government must be prepared to loosen sanctions and must prepare the country to make the move.



Last month, the federal government launched a four -stage plan to relax restrictions when 70% of its 25 million residents over the age of 16 were vaccinated.


When the vaccination rate reaches 80%, only targeted closures are required and Australians who are vaccinated, are free to travel abroad.


However, states in Western Australia and Queensland have raised concerns that the plan may not be met due to the continued increase in cases.


New South Wales (NSW) once again set a new record, where a total of 818 cases were reported today, bringing the total daily infections to over 800 cases for three consecutive days.


The Aussie dollar, however, did not react to the statement, remaining traded lower against the US dollar despite recording a slight gain in the Asian session.