Some sectors of Australian economy will need additional support – PM Morrison

FILE PHOTO: Australian Prime Minister Scott Morrison speaks during a state memorial honouring victims of the Australian bushfires at Qudos Bank Arena in Sydney, New South Wales, Australia, February 23, 2020. REUTERS/Loren Elliott

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.

Much of Australia’s stimulus is expected to expire in September, but Morrison said some additional support may be needed.

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