Australian Treasurer Flags Smaller-Than-Forecast Budget Deficit

Australian Treasurer Jim Chalmers said figures to be published on Monday will show the nation’s deficit for last financial year was “billions of dollars” smaller than forecast at the budget in May, according to a a video posted on X.

“Not only is the bottom line much better than the government inherited, it’s better than what was forecast at the election and it’s improved again since the budget,” Chalmers said.

“It’s remarkable when you consider everything that’s coming at us from around the world that we’ve been able to continue to improve the budget bottom line,” he added.

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