Federal Treasurer Josh Frydenberg has unveiled Australia’s largest budget deficit considering that World War II, reaching practically $86 billion last financial year.
Key points:
- A forecasted $5 billion surplus for 2019-20 ended in a deficit of practically $86 billion
- It is expected to reach another record high next year, at more than $184 billion
- The Treasurer says the deficits reveal the cost of securing lives and livelihoods
The defici