Australian government commits to several years of budget deficits to support recovery from coronavirus pandemic

Australia’s government on Tuesday pledged billions in spending to sustain an economic recovery from the Covid-19 slump that has blitzed even the most optimistic projections, a move that will keep public finances in the red for years to come.While Prime Minister Scott Morrison’s conservative administration has abandoned any pre-pandemic commitments to a budget surplus, a significant boost in tax receipts from mining exports has helped trim the projected deficit for the current financial year…

Read the original article at South China Morning Post