Treasurer warns coronavirus will have 'significant' impact on Australia's economy

The treasurer says it's too early to tell how bad the economic impact of the coronavirus will be, as Chinese businesses hope it's only a temporary setback.

Treasurer Josh Frydenberg during Question Time at Parliament House in Canberra. Source: AAP

Treasurer Josh Frydenberg has warned the economic impact of the coronavirus will be “significant” as Australian businesses brace for a hit to their bottomlines.

The federal treasury is scrambling to model a range of scenarios with some forecasts suggesting the local economy could suffer a hit of up to $2.3 billion.

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