Australia's Frydenberg: Full economic impact of bushfires remains uncertain

Dhwani Mehta FXStreet

Reuters reports the latest comments from the Australian treasurer, Josh Frydenberg, as he speaks about the impact of the Australian bushfire on the economy.

Frydenberg said that the full economic impact of bushfires remains uncertain.

Further Details:

The Australian government has announced a support package for small businesses affected by bushfires.

The support package includes low-interest loans of up to 500,000 Australian dollars (343,751 US dollars) to businesses that lost significant assets in fires that have devastated much of the country since September.

Businesses and organizations damaged by fires will also be eligible to receive grants of up to 50,000 AUD (34,375 U.S. dollars) tax-free.

"This comprehensive package will make it easier for those who have suffered direct fire damage, or have been indirectly economically impacted following the bushfires, to get back on their feet," the statement read.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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