Government Should ‘Go Hard and Go Smart’ to Fight Australia’s Recession: Deloitte

Government Should ‘Go Hard and Go Smart’ to Fight Australia’s Recession: Deloitte
Federal treasurer Josh Frydenberg delivers his budget address at National Press Club on April 3, 2019 in Canberra, Australia. Tracey Nearmy/Getty Images
Sophia Jiang
Updated:

Deloitte Access Economics predicts that the pandemic crisis will leave a staggering $370 billion deficit in the federal budget over the next three years as Australia deals with the biggest hit to the Australian economy since the Great Depression.

The report published by Deloitte on May 11 said the high deficit is necessary and should not hold the governments back from spending more to boost employment and championing a new round of economic reform.