Australia govt forecasts shrinking budget deficit, surplus by 2020/21

Australia govt forecasts shrinking budget deficit, surplus by 2020/21
SYDNEY, Dec 18 (Reuters) - Australia's conservative government on Monday forecast its budget deficit for the fiscal year to June 2018 would amount to A$23.6 billion ($18.04 billion), down from an original prediction of A$29.4 billion.

In his half year fiscal outlook, Treasurer Scott Morrison projected the budget would get back to surplus by 2020/21, unchanged from his forecast in May.

A combination of stronger job creation, lower unemployment payments and higher earnings from commodity exports helped offset weakness in wages and consumer spending. ($1 = 1.3079 Australian dollars) (Reporting by Wayne Cole; Editing by Shri Navaratnam)

2017-12-18 03:14:36

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