Australia might not re-open its closed borders until late into 2022.

Citing the breakouts and the delayed vaccine rollouts over the world, Australia's finance minister said that the country might not open its border until late 2022.

"We recognize that if Australians want to be kept safe and secure … and given uncertainties that exist not just in the speed of the vaccine rollout but also the extent of its effectiveness to different variants of COVID, the duration of its longevity and effectiveness, these are all considerations that mean we won't be seeing borders flung open at the start of next year with great ease," Finance Minister Simon Birmingham told The Australian.

"The ferocity of recent COVID outbreaks, the uncertainty in many countries around vaccine rollouts, all create an environment in which, although Australia's enjoying very high levels of business and consumer confidence, there's a fragility that underpins all of that," he added.

Australia has remained closed from most of the world except its recently opened travel bubble with New Zealand. The travel bubble extended, last month, with New Zealand allows people to travel between the countries without the mandatory two weeks quarantine.