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The Financial Express

Australia announces $11.4b economic stimulus plan to counter virus impact

Published: March 12, 2020 15:00:50 | Updated: March 14, 2020 15:06:14


File photo (Collected) File photo (Collected)

Australia announced an A$17.63 billion ($11.41 billion) economic stimulus plan on Thursday that includes wage subsidies and cash payments for small businesses, to counter the impact of the coronavirus, reports Reuters.

“Both this financial year and in the next two financial years, the gross impact of that stimulus is A$22.9 billion ($14.82 billion). That’s 1.2 per cent of GDP,” Prime Minister Scott Morrison told reporters in Canberra.

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