However, the Treasurer acknowledged there are still major hurdles ahead, as the bushfires and the outbreak of the coronavirus are yet to make their mark.
The Prime Minister says the coronavirus outbreak will have a significant impact on the budget.
Australian economy is likely to face more hurdles
Federal Treasurer Josh Frydenberg speaks during a press conference Source: AAP
The National Accounts released the December quarterly results and the figures have shown growth in the country's Gross Domestic Product.
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