“Australia is coming back. […] In the face of a once-in-a-century pandemic, the Australian spirit has shone through.”, with these words full of confidence Federal Treasurer Mr Josh Frydenberg handed down the 2021/22 Federal Budget at 7:30 pm (AEST) yesterday on 11 May 2021.
His confidence may be very well justified. A stronger than expected economic recovery from the COVID-19 recession has resulted in a budget deficit of $161 billion, $52.7 billion lower than the government’s expected deficit.
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