Australia introduces $26 billion Economic Stimulus Package

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Home » Business » Australia introduces $26 billion Economic Stimulus Package

Australia introduces $26 billion Economic Stimulus Package

By Hercules K
Tuesday February 3, 2009, 12:02 am ET

The Australian government has introduced a new economic stimulus package totaling US $26 million. About $20 billion will go to build schools, roads and other infrastructure, while about $6 billion will be used to give lower income families a break. The Australian government projects a $22.5 billion dollar deficit for 2009 and also forecasts unemployment up to 7% for the year and into early 2010. Australia most recently announced a $2.6 billion bailout aimed primarily at supporting banks and sustaining jobs.

Tags: bailouts, economy, jobs