Finance Minister Simon Birmingham has spruiked the budget update handed down by Treasurer Josh Frydenberg - saying the government's economic measures are working. The treasurer revealed the nation’s deficit has been revised down since the October budget, and is expected to come in at $197 billion.
Addressing the media, Mr Birmingham said the updated debt outlook “remains broadly consistent with budget expectations". He warned Australians, however, there was still no room for complacency about the COVID-19 pandemic. “This budget tells a story of resilience, of recovery and of Australians getting back to work,” he said. “These forecasts, along with the other economic forecasts stand Australia in incredibly good stead relative to many others comparable nations.