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

May 11, 2021 | INVESTING

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…

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