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Queensland has placed its bid to host the 2032 Olympics on hold to deal with the coronavirus pandemic.

The government estimates the games could inject more than $20 billion dollars into the state's economy.

But Premier Annastacia Palaszczuk says Queensland must concentrate on the road out of the pandemic.

If the bid were successful, it would be the third time Australia has hosted the games.

It has previously been held in Melbourne in 1956 and Sydney in 2000.

Image: Getty