Australian federal budget delayed until October due to CoronaVirus Pandemic

SYDNEY – Australia has officially postponed the release of its federal budget until October due to wide range effects of Corona Virus pandemic.

Australian Prime Minister Scott Morrison said on Friday that it was not “sensible” to put together economic forecasts during such uncertain times.

The announcement comes as the lockdowns and the travel bans related to the coronavirus pandemic has shaken Australia’s A$2 trillion ($1.17 trillion) economy which is now on the verge of its first recession in nearly three decades.

The number of coronavirus cases across Australia increased to about 800 with the majority of affectees from New South Wales which is Australia’s most populous state.