Economy Seen Getting Needed Budget Jolt

Economy Seen Getting Needed Budget Jolt
Treasurer Josh Frydenberg handed down the updated economic and fiscal outlook in Canberra, Australia on Dec 17 , 2020.Sam Mooy/Getty Images
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Australia’s federal Treasurer Josh Frydenberg is expecting a solid economic rebound from the COVID-19 recession in the next financial year as he spends billions of dollars to help create jobs.

Frydenberg is hoping to fire up the economy from the depths of recession and have growth expanding at a speedy 4.75 percent in the next financial year, in what is being called the right budget for the times.