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Worst set of numbers in more than 70 years

The federal budget will likely be in the red by around $184 billion this financial year.

The result has been driven by massive spending measures to support the economy and save jobs.

Debt levels are expected to drastically increase, while unemployment could hit just over nine per cent by December.

Finance Minister Mathias Corman told Oliver Peterson the government is doing everything possible to mitigate the financial stress.

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