Treasurer Josh Frydenberg has confirmed Australia will hit its first recession in 29 years.

Australia GDP shrank by 0.3 per cent in the last quarter, and the impact of COVID-19 on the June quarter is expected to be “far more severe”, the Treasurer said.

Peta Credlin is calling for calm.

“It’s almost inevitable … but we’re not there yet,” she told Mark Levy.

“Let’s put it in perspective: in the March quarter, Britain shrank by two per cent, Italy by five per cent, China … about 10 per cent.

“Considering how far we turned things around on the health trajectory, I think we’re better placed than anyone to turn it around on the economic trajectory.”

To do so however, the government needs to review and reign in economic spending, she argued.

“A lot of our unemployed Australians are hidden in those JobKeeper numbers.

“When JobKeeper goes, that’ll be the true state of our unemployment numbers.”

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