Australia may spend up to US$6.6 bil to offset virus impact

Stimulus might include tax breaks and cash handouts. FMTNews Australia

TOKYO: Australia’s fiscal stimulus package to protect the economy against the impact of the coronavirus may run as high as US$6.6 billion.

Governments around the world have already pledged more than US$54 billion in budget support to counter the virus’s impact. For Australia, the blow is coming hot on the heels of a summer of devastating wildfires that were already expected to crimp growth.

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