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Prolonged Covid costs Australian economy $3.6 billion a year: report | World News

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Long Covid is costing the Australian economy the equivalent of $3.6 billion in lost output each year, The Australian Financial Review reported, citing exclusive data analysis.

About 31,000 workers took sick leave due to the condition in June, according to estimates from the country’s finance ministry, and an analysis by think tank Impact Economics and Policy found the weekly cost to the economy was A$100 million ($68 million). AFR. This equates to approximately A$5.2 billion per annum.

Australia has announced a parliamentary inquiry into the long-running coronavirus, aimed at defining the disease and measuring the extent to which it affects the country’s 26 million people. While most people who contract the virus make a full recovery, millions more globally are seeing lasting effects, from respiratory problems to neurological problems.

read more: US accuses Russia of harassing jailed opposition leader Alexei Navalny

While most countries are seeking to move on, governments are struggling to adapt, reflecting the ongoing impact of the pandemic.

Australian Labor MP Mike Freedlander will lead the country’s investigation. Freedlander told the AFR in an interview that it will try to find the exact number of people affected by prolonged Covid and work out the best treatments to help them recover. He said the inquiry would also look into whether the condition should be classified as a disability so patients could potentially access government support.

A recent Harvard study found that depression, anxiety and stress before contracting the new coronavirus may increase the chance of developing long-term symptoms. Lingering effects ranging from chronic fatigue and “brain fog” to hair loss and shortness of breath are estimated to afflict about 10 to 20 percent of Covid survivors.

Another Harvard study shows that the long-term Covid-19 pandemic alone is estimated to cost the U.S. $3.7 trillion.

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