Tue. Dec 1st, 2020

Australia’s PM deferred federal budget till October

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Sydney, Mar 20 (HS): Australian Prime Minister Scott Morrison said on Friday that he would not release the country’s federal budget until October. Because it is not

prudent to make economic forecasts during uncertain times.

The announcement comes after travel restrictions and lockdowns related to the coronavirus epidemic. Coronavirus has dealt a major blow to Australia’s 1.17 trillion-dollar economy, which is now on the verge of its first recession in nearly three decades.

The number of coronavirus cases in Australia has increased to around 800. Most of the cases have been reported across the country in the most populous state of New South Wales.