Australia commits AUD$1.2 billion to spur digital economy
Aiming at boosting the digital economy, the Australian government announced the allocation of AUD$1.2 billion (approximately US$0.94 billion) to develop the infrastructure. Out of this budget, an amount of AUD$100 million (approx. US$78.4 million) is dedicated to buttress digital skills and scholarships for emerging tech graduates and investments in the digital workforce. The government further allocated AUD$15.3 million (US$12 million) to promote the digitisation of small and medium enterprises (SMEs) with a special focus on upgrading electronic invoicing. ‘Our Digital Economy Strategy will allow Australian businesses to capitalise on the opportunities that digital technologies are creating. Greater digital adoption will improve our competitiveness and lift our productivity – driving job creation and higher wages,’ noted Treasurer Josh Frydenberg.