Australia’s Rising Debt ‘Manageable’

In this undated handout photo from the Reserve Bank of Australia (RBA) released on April 12, 2016 stacks of new style five Australian dollar note are seen, which will replace its more bland pink, purple and orange predecessor from September 1, 2016.STR/AFP/Getty Images

Economists believe Australia’s ballooning government debt is manageable in a low interest rate environment.

Josh Frydenberg handed down a big-spending budget on Oct. 6, while forecasting a record deficit of $213.7 billion in 2020/21 and government debt rising to above $1 trillion for the first time the following year.