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Budget Deficit Up To AUD213.7bn In 2020-21

AUSTRALIA

Treasurer Josh Frydenberg delivering the Federal Budget outlines the hit to public finances due to COVID-19.

  • 'COVID-19 will see our deficit reach AUD213.7 billion this year, falling to AUD66.9 billion by 2023-24. Net debt will increase to AUD703 billion or 36% of GDP this year and peak at AUD966 billion or 44% of GDP in June 2024.'
  • 'No economic recovery without jobs recovery....This budget is all about jobs.'
  • Link: https://www.aph.gov.au/News_and_Events/LiveMediaPl...{5703A1D7-2CD5-4787-A964-A5A2564171FF}

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