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‘No doubt’ bushfires will have ‘major impact’ on economy: Josh Frydenberg

Treasurer Josh Frydenberg says the economic impact of the bushfires will be significant as Australia battles through an unprecedented bushfire season.

24 people have been confirmed dead and over 1500 properties have been lost this bushfire season.

The Reserve Bank was forced to cut interest rates to historic lows over the last year amid a sluggish economy.

But Mr Frydenberg tells John Stanley the Australian economy remained strong through the drought and international trade wars, but there is no telling the impact of the current bushfires.

“It’s too early to tell what the full economic impact of these fires will be but no doubt it will have a major impact.

“As the prime minister has said, our focus is not on the surplus, our focus is on getting the support to the community in need.”

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Image: Getty/Bloomberg