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Treasurer, Josh Frydenberg, will today unveil treasury analysis showing coronavirus lockdowns are costing the economy four billion dollars per week. With the country on track for its first recession in 30 years, he"ll also say unemployment is set to hit 10 percent by the end of June. The economy will be one of the key discussions at today's national cabinet meeting, along with a proposal to resume flights betweeen Australia and New Zealand.
Australia has pledged over 350-million dollars towards a global effort to fight COVID-19. An alliance of world leaders held a virtual summit with the European Commission overnight and cemented efforts to find a vaccine. The United States, China and Russia did not take part.
President Donald Trump has warned that as many as 100-thousand people could die of coronavirus in the US. The death toll in the United States is already more than 67-thousand. Speaking at a virtual "town hall", Mr Trump denied suggestions that his administration had acted too slowly.
Four and a half million people have returned to work in Italy after almost two months at home. 29-thousand people have died in Italy since the start of the pandemic. But the world's largest lockdown is slowly being eased in India. Some New Delhi residents resumed work but one of the biggest headaches for police was monitoring unruly crowds outside liquor stores. Most restrictions will remain in place across India until May 17.
