Australia announces AUD688 million economic stimulus for the construction sector - Kedai Saham
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Thursday, June 4, 2020

Australia announces AUD688 million economic stimulus for the construction sector

*Australia announces AUD688 million economic stimulus for the construction sector*

In another effort to boost the economic growth, the Australian government announced the $688 million HomeBuilder program on Thursday after the country's Q1 GDP revealed the first contraction in three decades, as cited by Domain.com

*Additional takeaways*

Australians will be offered $25,000 grants to build a new home or start a major renovation under near-$700 million federal government housing package.

The plan will be restricted to people on middle incomes and to new homes and major renovations valued between $150,000 to $750,000.

The temporary scheme that will last until the end of the year, aiming to build 30,000 homes by Christmas.

Treasurer Josh Frydenberg said the package aimed to spark jobs and stimulus for the economy.

*Note : Stimulus Melemahkan $AUD, Good for Pasar Saham Australia*

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