Second virus wave may cost Australia $80b

Finance Minister Mathias Cormann has warned a resurgence in coronavirus could cost $80 billion over two years.

Mathias Cormann talks to the media. Source: AAP

Finance Minister Mathias Cormann has warned a second wave of coronavirus could cost the Australian economy $80 billion over the next two years.

His calculation came as global share markets erupted into a sea of selling on fears of a pandemic resurgence, killing off optimism for a quick recovery.

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