Treasurer Josh Frydenberg. Picture: Elesa Kurtz
Australia will suffer a $184.5 billion deficit as the coronavirus drives a wrecking ball through the economy.
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Gross government debt will blow out to $677.1 billion this financial year.
Treasurer Josh Frydenberg revealed the true cost of the coronavirus pandemic in a special budget update on Thursday.
The budget plunged $85.8 billion into deficit in 2019-20, which will more than double this financial year, as the country suffers its biggest hit since the Second World War.
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Follow along with our live blog as we provide the latest updates and reactions from today's economic statement. It sometimes takes a moment but will appear below.
