'Harsh reality' of pandemic to be addressed in budget meeting

Australia can expect to see "eye-watering debt and deficit" when the budget update is announced tomorrow.

Treasurer Josh Frydenberg told Today the current JobKeeper system is "unsustainable", with the government spending about $11 billion a month to support the country's workforce.

"Forecasting is difficult at the best of times let alone in a once-in-a-century pandemic," Mr Frydenberg said.

"I don't think we have seen uncertainty like this in a global and indeed a national economy in living memory. 

"Right now, we are spending $11 billion a month on JobKeeper. That is unsustainable if we kept that program going indefinitely."

Mr Frydenberg said tomorrow's budget update will address debt and deficit numbers unlike any the country has seen before.

"That's the harsh reality of this pandemic. The coronavirus has required the government to spend unprecedented amounts of money to support people in need," he said.

READ MORE: JobKeeper changes will take place after September

From the JobKeeper and JobSeeker initiatives to the $750 pensioner cash payments, Mr Frydenberg reassured that the federal government is invested in Australia's workforce.

"Businesses are not making the profits that they were, people are not in jobs in the same numbers that they were and as a result the revenue coming in to the economy is not what it was," he said.

You can  get up-to-date information from the Federal Government's Coronavirus Australia app, available on the App Store, Google Play and the Government's WhatsApp channel.

Beyond Blue's Coronavirus Mental Wellbeing Support Service is a 24/7 service free of charge to all Australians. Visit the site here or call 1800 512 348.

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