Federal Treasurer Josh Frydenberg has revealed Australia’s budget deficit hit almost $86 billion last financial year, the largest since world war two.
Mr Frydenberg says the blow to the budget, shows the cost of protecting lives and livelihoods amid the coronavirus pandemic.
Highlights
- Last year's promised $5 billion surplus has plunged to a $85.8 billion deficit
- It's wiped out this year's projected $6.1 billion surplus by $184.5 billion dollars.
- The latest numbers are the result of $187.5 billion in stimulus and health spending.
Share
