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Economic doom at a glance

Treasury is forecasting a budget deficit of $184.5billion for 2020-21, up from an $85.8billion deficit in 2019-20

This will make up 9.7 per cent of gross domestic product - the highest as a proportion of the economy since 1945 during the end of World War II 

Unemployment was expected to hit 9.25 per cent by December - a level unseen since September 1994 

GDP is forecast to have fallen by seven per cent in the June quarter alone - the equivalent of three years' worth of growth

Source: Treasury Economic and Fiscal Update, July 23, 2020 

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