Australia May Spend Up to $6.6 Billion to Ease Virus Impact
- Announcement could come after Cabinet meeting on Tuesday
- Government is seeking to protect jobs, business cash flows
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Australia’s fiscal stimulus package to protect the economy against the impact of the coronavirus may be up to A$10 billion ($6.6 billion).
The Australian newspaper reported Monday that the package would be almost A$10 billion ($6.6 billion) after The Sunday Telegraph said it was likely to be $5 billion. Treasurer Josh Frydenberg, in an opinion piece in the Australian today, said that the virus is having “a significant impact” on tourism, education, agriculture and manufacturing.