Josh Frydenberg to unveil Australia's largest budget deficit since second world war

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Josh Frydenberg to unveil Australia's largest budget deficit since second world war
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Treasury update will show the extent of the economic shock from Covid-19 with analysts tipping a deficit of $200bn

The government that went to the last federal election declaring it was “back in black” will on Thursday unveil the largest budget deficit since the second world war, reflecting the substantial fiscal support rolled out during the Covid-19 pandemic, and a deterioration in revenue because of a contraction in activity.

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