Australia to record $184.5 billion fiscal deficit - AAP Newswire

Australia will record a fiscal gap of $184.5 billion this financial year, as the country suffers its biggest hit since the Second World War due to coronavirus outbreak. 

Meanwhile, gross government debt is expected to blow out to $677.1 billion.

"These harsh numbers reflect the harsh reality we face. We can see the mountain ahead and Australia begins the climb," Treasurer Josh Frydenberg told reporters in Canberra.