Coming Up Mon 9:00 PM  AEST
Coming Up Live in 
Live
Punjabi radio

Government upbeat over fiscal outlook despite the COVID spectre

Australian Treasurer Josh Frydenberg addresses the media during a press conference as he hands down the Mid-Year Economic and Fiscal Outlook Source: AAP

The half-yearly financial check-up on the Australian economy has showed the economic recovery is taking shape - but COVID uncertainty continues to cast a shadow over the future outlook.

With Christmas approaching, the latest assessment of federal spending is now public and Treasurer Josh Frydenberg says it's good news.

The message he wants to send is that Australia's economic recovery is taking shape.

"Today's budget update further confirms that the Australian economy is rebounding strongly, having outperformed every major advanced economy throughout the COVID pandemic." 

Australia's recovery is being measured in festive splurges, with tax cuts the major item.

The deficit is only slightly lower, the government says that’s largely because of increased spending on the National Disability Insurance Scheme and the cost of covid lockdowns.

The federal opposition meanwhile says it's clear there isn't much good news for Australians under this budget Christmas tree.

Labor's treasury spokesman Jim Chalmers says this update doesn't deliver on key issues - and he seized the moment to highlight one of Labor's likely election themes: 

"It completely ignores the issues in the economy around stagnant wages and skills shortages and job insecurity, and it does absolutely nothing to crack down on the rorts and waste and mismanagement which has characterised the Coalition's decade in office. If anything this budget actually doubles down on the rorts and waste in the budget.

Click on the player at the top of the page to listen to this information in Punjabi.

SBS is committed to informing Australia’s diverse communities about the latest COVID-19 developments. News and information is available in 63 languages at https://www.sbs.com.au/language/coronavirus

Listen to SBS Punjabi Monday to Friday at 9 pm. Follow us on Facebook and Twitter.

 

Coming up next

# TITLE RELEASED TIME MORE
Government upbeat over fiscal outlook despite the COVID spectre 20/12/2021 06:24 ...
SBS Punjabi Australia News: Friday 27 May 2022 27/05/2022 10:19 ...
Australians can expect a significant rise in their power bills 27/05/2022 05:42 ...
This Australian state has expanded its skilled occupation list to attract offshore migrants and international students 27/05/2022 06:55 ...
ਲੱਖਾਂ ਲੋਕ ਹੋ ਸਕਦੇ ਹਨ ਭੁੱਖਮਰੀ ਦਾ ਸ਼ਿਕਾਰ, ਸੰਯੁਕਤ ਰਾਸ਼ਟਰ ਦੀ ਚਿਤਾਵਨੀ 27/05/2022 05:03 ...
ਅਮਰੀਕਾ ਦਾ 'ਗੰਨ ਕਲਚਰ' ਫੇਰ ਸੁਆਲਾਂ ਦੇ ਘੇਰੇ 'ਚ, ਸਕੂਲ ਗੋਲੀਬਾਰੀ ਦੌਰਾਨ 21 ਲੋਕਾਂ ਦੀ ਮੌਤ 26/05/2022 08:44 ...
UN warns millions face famine 26/05/2022 05:03 ...
SBS Punjabi Australia News: Thursday 26 May 2022 26/05/2022 08:40 ...
‘Beyond butter chicken’: Manpreet Sekhon on changing perceptions of Indian food in Australia 26/05/2022 16:00 ...
ਟੈਕਸ ਰਿਟਰਨ 2021-22: ਵਧੇਰੇ ਟੈਕਸ ਰੀਫੰਡ ਹਾਸਿਲ ਕਰਨ ਲਈ ਜਾਣੋਂ ਇਹ ਖ਼ਾਸ ਨੁਕਤੇ 26/05/2022 10:45 ...
View More