Australia lowers economic growth forecasts on Covid-19

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Australia has lowered its projections for population and economic growth over the next 40 years due to the impact of the Covid-19 pandemic, Reuters reports.

Canberra closed its international borders in March last year to all but citizens and permanent residents in an attempt to prevent the spread of the virus. The government says it will reopen borders to migrants only when it believes it is safe to do so.

Australia now expects its population to total 38.8 million by 2061, down from its last forecast in 2015 of 40m by 2056.

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