Australia's Prime Minister Scott Morrison will on Sunday pledge an addition...
SYDNEY - Australia’s Prime Minister Scott Morrison will on Sunday pledge an additional A$66.4 billion in fiscal stimulus in a bid to shelter the country’s economy from coronavirus, according to excerpts of a speech seen by Reuters.
But as the number of coronavirus cases in Australia tops 1,000, Morrison will say that his government will spend another A$66.4 billion to safeguard jobs, while a third economic stimulus package is likely. Morrison will also say that Australia will also underwrite 50% of up A$40 billion in loans offered by local lenders to small and medium sized companies.
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