The Morrison Government’s massive stimulus programs will leave it $85.8 billion in the hole in 2019-20 and $184.5 billion in 2020-21. Unemployment is also expected to rise to 9.25 per cent in the December quarter as almost a million Australians lose their jobs, but Treasurer Frydenberg says support measures have saved 700,000 jobs.
“Australia has performed better on the health and economic front than almost any other nation in the world,” Mr Frydenberg told media.
The Morrison Government has unleashed $289 billion in fiscal and balance sheet support – 14.6 per cent of GDP.
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More to come.
