Since May's budget, the estimated number of migrants projected to arrive in Australia has risen.
Permanent migration to Australia will be increased to 160,000 people per year to help the country's economic recovery and address skills shortages, according to Treasurer Josh Frydenberg.
He was speaking ahead of Thursday's budget update, the Mid-Year Economic and Fiscal Outlook (MYEFO), in which he said the federal government projected overseas migration to be 120,000 more over the next two years than predicted in the May federal budget.
The additional migrants, he told The Australian newspaper, will assist the Australian economy recover from the blow of the COVID-19 outbreak.
"With among of the highest vaccination rates in the world, our international borders are opening roughly six months sooner than budgeted, resulting in a major turnaround in migrant patterns," he said.
"The MYEFO (Mid-Year Economic and Fiscal Outlook) will demonstrate that over the next two years, we expect 120,000 more migrants than budgeted, supporting better economic activity and offering a welcome boost to our economic recovery."
Due to extensive COVID-19 travel prohibitions and border closures, Australia's net foreign migration fell into negative territory for the first time since World War Two, implying that more migrants left the nation than arrived.
According to the May budget, net overseas migration for the fiscal year 2021-22 was predicted to be minus 77,000, however, this will be revised up to minus 41,000.
The figures for the fiscal year 2022-23 will also be revised upwards, according to the article.
Andrew Leigh, the Labor Party's assistant Treasury spokesperson, said the news was "more headlines than announcements."
"When Labor has a strategy, they will reply to the government's migration plan," he continued.
"Australians, on the other hand, require answers, not spin. When it comes to the vital subject of migration, they need some actual substance.
"Today, all we have is another figure, tossed out in an attempt to generate a headline or a soundbite. We don't have enough information to assess what the migration arrangements will be like for Australians.
"A migration strategy must address our balance of temporary and permanent migration, as well as a family reunion and skilled migration."
According to Australian Bureau of Statistics figures, there will be more than 7.6 million migrants in Australia in the year ending 30 June 2020.
29.8% of the population was born overseas of the country.
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