Australia announces biggest budget deficit since World War II

Canberra Australia has revealed its budget deficit will be 85.8 billion dollars ($61.2 billion) in 2019-20 and 184.5 billion in 2020-21, marking the biggest deficit since World War II, due to the economic fallout from the coronavirus pandemic. "Australia is experiencing a health

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Published 23 July 2020, 8:00 · Updated 22:01

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Australia announces biggest budget deficit since World War II

Canberra

Australia has revealed its budget deficit will be 85.8 billion dollars ($61.2 billion) in 2019-20 and 184.5 billion in 2020-21, marking the biggest deficit since World War II, due to the economic fallout from the coronavirus pandemic. "Australia is experiencing a health and economic crisis like nothing we have seen in the last 100 years," Treasurer Josh Frydenberg said in a press conference giving a special budget update on Thursday.

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