The Federal Treasurer has outlined what he has dubbed a “sobering” economic outlook on a day when he had long hoped to deliver Australia’s first budget surplus in more than a decade.
The 2020-21 Federal Budget was due to be released today, but the Government was forced to delay until October as it seeks to come to terms with the full economic cost of the coronavirus pandemic.
Instead, Treasurer Josh Frydenberg delivered in the Parliament an economic update, which experts expect will represent the largest budget deficit in Australian history.
Read more here: https://www.abc.net.au/news/2020-05-12/treasurer-josh-frydenberg-addresses-parliament-on-coronavirus/12237860
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