- Prior to the budget, Australia’s benchmark index ASX 200 is trading 0.6% down, at 7,130.2 (as of 10:49 AM AEST).
- As the Australian borders are still closed, the government is also expected to aggressively target the unemployment.
- Australia is considering an AU$18 billion package to be delivered over four years, aimed at training aged-care workers.
On Tuesday, Treasurer Josh Frydenberg would be delivering the budget 2021-2022 in quest to add more fuel to the economic recovery after severe disruptions caused by the restrictions imposed in the wake of the COVID-19 pandemic. In the forthcoming budget, the main focus would be on Australia’s energy, infrastructure and healthcare sectors, as policymakers are set to leave no stone unturned to pave the way for the economic revival.
Prior to the budget, Australia’s benchmark index ASX 200 is trading 0.6% down, at 7,130.2 (as of 10:49 AM AEST), after hitting a 52-week high on Monday. This 14-month high level was achieved on the back of stronger-than-expected economic rebound and a boom in the commodities market.