Australian budget deficit decrease
Date
9/19/2019 4:54:13 AM
(MENAFN)
Josh Frydenberg, Australian Treasurer, said that the final budged outcome that was released on Thursday showed a return to balance for the first time in 11 years.
On Thursday, Frydenberg released the final outcome of the budget in 2018/19, showing that the deficit stood at USD468.9 million.
It marks the first time that the budget went back to balance since 2007/08 and it showed an improvement from the USD2.85 billion deficit displayed by the government in April.
The government said that a budget surplus of USD4.8 billion is predicted for the financial year 2019/20, which marks the first surplus since 2007/08.
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