Australia government adds to stimulus as record deficits loom

SYDNEY (Reuters) - Australia’s government will run record budget deficits this year and next as it spends big on stimulus and infrastructure to cushion the economy from the coronavirus, Prime Minister Scott Morrison said on Monday, warning of tough times ahead.
Announcing another A$1.5 billion ($1.02 billion) on infrastructure and fast-track approval for a range of projects, Morrison also said Australia was coming through the virus better than most of its peers, as states launched a further easing of lockdown restrictions.

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