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5/12, 2:26 AM (Source: TeleTrader)
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Net debt down 'each and every year' - Australia's Treasurer

Australia's Treasurer Josh Frydenberg (pictured) stated that the country's net debt as a proportion of the size of the economy has come down "each and every year," adding that that was an "important indicator of financial stability and sustainability."

Commenting on the newly proposed budget Frydenberg stated that the government's priority was expanding employment, adding that it intends to create 250,000 new jobs. He noted that the focus was on " driving the unemployment down from the 5.6% it is today, even below 5%, which is the number that Treasury is forecasting we'll reach by the end of next year," adding that the budget also includes tax relief for families and business investments incentives.

Earlier, Australia's Prime Minister Scott Morrison stated that he sees job growth as a way to balance the budget and offset any potential debt.

Breaking the News / OL