Australia is planning to accelerate spending on infrastructure projects, targeting road and rail sectors, in an effort to reinvigorate the economy, according to Reuters.
The Australian government is looking to spend A$3.8 billion ($2.59 billion) in the next four years, with nearly half of that amount to be shelled out in the next 18 months. According to The Guardian, this will comprise $1.27 billion in fast-tracked funding along with $510 million in new money.
According to an audit released by Infrastructure Australia in August, Australia will need to spend A$600 billion ($406 billion) on infrastructure over the next 15 years in order to counter demand caused by population growth in major Australian cities.
Aging assets, increasing road congestion and crowded public transportation are also rising issues that Australia will need t
