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Australian State Playing ‘Russian Roulette’ With Economy: Oliver

  • New South Wales could be gambling away its economic recovery
  • Australia’s economy has rebounded rapidly from a contraction
A healthcare worker administers a Covid-19 test at a drive-thru testing site in Sydney on Dec. 16.

A healthcare worker administers a Covid-19 test at a drive-thru testing site in Sydney on Dec. 16.

Photographer: Brent Lewin/Bloomberg

Australia’s most populous state could be playing “Russian Roulette” with its economic recovery by pressing ahead with a roll back of virus restrictions in the face of surging infections, according to AMP Capital Investors Ltd.’s Shane Oliver.

New South Wales’ decision to relax mask and vaccine mandates, check-in requirements and density limits at a time “when other countries are going in the opposite direction has added to the coronavirus risks to the near-term economic outlook,” Oliver, chief economist at AMP, said in a research note.