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

FILE PHOTO: Australian Prime Minister Morrison speaks during a joint press conference at Admiralty House in Sydney

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 ($166.1 billion).

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

(Reporting by Colin Packham; Editing by Himani Sarkar)

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