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Chief economist update: We're all Victorians now

Australian Federal Treasurer Josh Frydenberg estimated that Victoria's lockdown will cost the about $1 billion a week "for the Victorian economy alone" - that is, not counting the multiplier effect on the national economy.

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Read more: VictoriaTreasurer Josh FrydenbergPhilip LowePrime Minister Scott MorrisonReserve Bank of AustraliaTim PallasCOVID-19