Australia to reveal big-spending plan for next fiscal year

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CANBERRA, Australia (AP) — The Australian government will release its big-spending economic plan for the next fiscal year aimed at creating jobs and repairing pandemic damage and designed with an eye toward winning votes at looming general elections. Treasurer Josh Frydenberg said Tuesday the economy was already recovering from the pandemic and his economic blueprint for the fiscal year starting on July 1 would create more economic strength. The 2020-21 budget announced in October forecast a deficit of $168 billion in the current fiscal year. Economists expect a smaller deficit of around $63 billion to be forecast Tuesday. 

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