Updated

Economic statement: Treasurer Josh Frydenberg reveals $184.5b deficit, $677 billion of debt

By Sally Whyte
Updated July 23 2020 - 4:38pm, first published 4:33pm
Treasurer Josh Frydenberg on Thursday. Picture: Sitthixay Ditthavong
Treasurer Josh Frydenberg on Thursday. Picture: Sitthixay Ditthavong

Unemployment is set to rise and stay high, Australia's deficit will rise to its highest level since World War Two, and any indicators for improvement are based on the country winning the fight against coronavirus earlier than seems possible as cases rise in Victoria.

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