Arizona is moving to reopen the economy, reviving it could take years

Budget Busting
Posted at 8:23 AM, May 13, 2020
and last updated 2020-05-13 11:23:25-04

Arizona took another big step to toward fully reopening the state’s economy on Tuesday, when Gov. Doug Ducey said the stay-at-home order would expire on May 15 and said more businesses could reopen, just as restaurants began reopening dining rooms this week.

But while reopening the economy could come relatively swiftly, experts say reviving the economy could take years.

As businesses shuttered by Covid-19 and resulting high unemployment have led to a collapse in sales and income tax revenues, state and local governments may be forced to slash budgets.

That, in turn, could slow the overall recovery, economists say, with fewer workers and services pumping money back into the economy.

Read more from the Phoenix Business Journal.