New figures show that households and businesses have raised over $200 billion in savings during the pandemic

Federal Treasurer Josh Frydenberg says households have enough savings for the economy to continue its recovery.

Treasurer Josh Frydenberg addresses the media during a press conference. Source: AAP

Mr Frydenberg says new figures show that households and businesses have raised over $200 billion in savings during the pandemic.

But Labor's treasury spokesman Jim Chalmers says higher savings don't guarantee jobs or a strong, inclusive economic recovery.

Mr Frydenberg has told the Nine Network that the savings will help when coronavirus support measures like JobKeeper end in March.