Economics
Australia Walks Back Surplus Promise on Deadly Virus, Wildfires
- Frydenberg says events are going to have economic impact
- Australia bars Chinese arrivals, hitting tourism, students
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Australian Treasurer Josh Frydenberg has walked back promises to return the budget to surplus as a summer marked by devastating wildfires and the coronavirus outbreak sap the economy.
“These events, outside our control, are going to have an impact on the economy,” Frydenberg told the Australian Broadcasting Corp.’s ‘Insiders’ program Sunday. “As for delivering the surplus, our focus is on delivering support to the people who need it the most.”