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The Australian economy is expected to rejoice its COVID-19 win by expanding at the fastest pace since 2007, a Reuters poll of 34 economists showed on Tuesday.

Key findings

“At a time when most major economies are battling a fresh wave of coronavirus cases, Australia has largely curtailed the outbreak, counting only about 30,000 local infections and 910 deaths since the start of the pandemic.”

“In 2020, on average, the UK economy contracted 10%, the eurozone by well over 6%, Japan by 5% and the U.S. by more than 3%.”

“After contracting at a much slower pace than its peers at around 2.5% last year, Australia’s A$2 trillion economy was forecast to expand on average by 4.4% this year and 3.2% in 2022 (vs. 3.5%; 3.0% in the January poll).”

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