To alleviate the pressure of fuel costs, Australia will provide interest-free loans to key enterprises.

Australian Prime Minister Albanese announced on the 2nd that the government will provide interest-free loans of up to AUD 1 billion to key industries such as transport operators and fertilizer producers to help them cope with the soaring fuel costs. According to Reuters, Albanese said in a speech to the National Press Club of Australia that this measure highlights his Labor government's commitment to easing the cost of living pressure and will be a key focus of next month's federal budget. "This will be the most important and grand budget of our government to date. It has to be. The scale of the challenges we face and the breadth of opportunities we have require this level of determination and urgency," he said. "No government can promise to eliminate all the pressure caused by this crisis, but we can be a buffer against the worst-case scenario."