Treasurer Josh Frydenberg says 'the risk of coronavirus is substantial', hints ...

'The risk of the coronavirus is substantial': Treasurer Josh Frydenberg says deadly virus could damage economy and says businesses 'will get support' to stop Australia plummeting into recession Treasurer Josh Frydenberg declared 'the risk of the coronavirus is substantial' Australia's economy grew by 2.2 per cent in 2019 before first cases confirmed The government is preparing a stimulus package to support jobs and businesses 

By Stephen Johnson For Daily Mail Australia

Published: 02:34 GMT, 4 March 2020 | Updated: 02:45 GMT, 4 March 2020

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Treasurer Josh Frydenberg has declared the coronavirus is a threat to the Australian economy and hinted at a stimulus package to support jobs.

Australia's economy grew by 2.2 per cent in 2019, with gross domestic product ticking up by 0.5 per cent in the December quarter despite the summer bushfires.

The official gross domestic product figures, however, covered the period before the January announcement of the first coronavirus case in the Chinese city of Wuhan.

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Treasurer Josh Frydenberg has declared the coronavirus is a threat to the Australian economy and hinted at a stimulus package to support jobs. Pictured are travellers in Paris who had been to China

Treasurer Josh Frydenberg has declared the coronavirus is a threat to the Australian economy and hinted at a stimulus package to support jobs. Pictured are travellers in Paris who had been to China

Reacting to the Australian Bureau of Statistics data, Mr Frydenberg hinted COVID-19 was likely to dent the economy in early 2020.

'The risk of the coronavirus is substantial,' he told reporters in Canberra on Wednesday.

'The impact of the coronavirus is serious and is ongoing and is affecting economies the world over.' 

The Treasurer also hinted there would be a stimulus package to support jobs, with 41 confirmed cases of coronavirus so far in Australia since January.

'We will be announcing a series of measures that are designed to keep businesses in business and Australians in jobs,' Mr Frydenberg said.

A stimulus package in 2020 would see the government break an election broken to deliver Australia's first federal budget surplus in 13 years. 

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