Australian recovery requires an extended support package, more social housing: OECD

The Australian government should consider extending its financial support package and investing in education and training, says the OECD.

Economic outlook from the OECD forecast for Australia Source: AAP

Australia's economic output could fall by 6.3 per cent this year if there's another wave of coronavirus cases, a key global economic body warns.

But even without a second wave, the Organisation for Economic Co-operation and Development says Australia's gross domestic product will still fall by five per cent this year, with severe and long-lasting consequences.

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