FILE PHOTO: Australian Prime Minister Scott Morrison speaks during a joint press conference held with New Zealand Prime Minister Jacinda Ardern at Admiralty House in Sydney, Australia, February 28, 2020. REUTERS/Loren Elliott/File Photo
SYDNEY (Reuters) – Some sectors of Australia’s economy will require additional stimulus, Prime Minister Scott Morrison said on Friday.
To prevent a prolonged economic depression triggered by COVID-19, Australia’s government and central bank has pledged to spend A$250 billion ($166.1 billion).
Much of Australia’s stimulus is expected to expire in September, but Morrison said some additional support may be needed.
Reporting by Colin Packham; Editing by Himani Sarkar