What is Morrison's plan in managing the debt in Australia?

Published on: May 26, 2021

The Morrison government is optimistic about its plan to manage the trillion dollars of debt racked up in its big-spending budget.

The third federal budget was handed out last week. The government has forecasted its gross debt to reach $1.2 trillion in 2025.
Josh Frydenberg has emphasized that they planned to get more people into work to mobilize the economy.
One of the government's plans to recover the economy is to put 250,000 people into work, adding $5bn to the bottom line.

His secretary, Dr. Steven Kennedy, has also advised that cutting spending too early could greatly impact Australia's economic recovery.

With that said, there are risks involved. The federal budget has added an argumentative assumption that the international border would gradually reopen from mid-2022.
One thing that is affecting our economy is that borders are closed indefinitely.
Most business leaders have been voicing their concern to announce the timeline in reopening borders in Australia.
Virgin chief executive Jayne Hrdlicka reiterated the need for Australia to reopen its international borders when the most vulnerable are vaccinated despite the risk of death.

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