https://s4.reutersmedia.net/resources/r/?m=02&d=20200529&t=2&i=1520300297&r=LYNXMPEG4S0CZ&w=1280 — FILE PHOTO: Australian Prime Minister Scott Morrison speaks during a joint press conference held with New Zealand Prime Minister Jacinda Ardern at Admiralty House in Sydney, Australia, February 28, 2020. REUTERS/Loren Elliott/File Photo

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

29 May 2020, 05:02

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.