Current location:politics >>
Australian gov't confirms 2nd consecutive budget surplus
politics83People have gathered around
IntroductionCANBERRA, May 14 (Xinhua) -- The Australian government has confirmed a second consecutive federal bu ...
CANBERRA, May 14 (Xinhua) -- The Australian government has confirmed a second consecutive federal budget surplus for the first time in over 15 years.
Treasurer Jim Chalmers on Tuesday said that the federal budget for 2024-25, which he will hand down on Tuesday night, will reveal a surplus of 9.3 billion Australian dollars (6.1 billion U.S. dollars) for the current 2023-24 financial year.
It is the first time Australia has recorded back-to-back budget surpluses since 2007-08 -- prior to the global financial crisis -- after a final surplus of 22.1 billion Australian dollars in 2022-23.
The surplus marks a significant turnaround from the 13.9 billion Australian dollars deficit projected in the previous budget in May 2023. The forecast deficit was revised down to 1.1 billion Australian dollars in the mid-year economic and fiscal outlook in December 2023.
Chalmers said the second surplus was a powerful demonstration of the governing Labor Party's responsible economic management.
"The forecasted surplus has come on top, not at the expense, of helping those doing it tough. The budget will ease cost-of-living pressures, not add to them, and incentivize investment in a Future Made in Australia," he said in a statement.
However, deficits in the next three years are now projected to be higher than forecast in December due to what Chalmers described as unavoidable spending.
In December, the Treasury forecast deficits of 18.8 billion Australian dollars in 2024-25, 35.1 billion Australian dollars in 2025-26, and 19.5 billion Australian dollars in 2026-27.
(Editor:Wang Su)
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“International Insight news portal”。http://bermuda.handmade-jacket.com/html-66e099864.html
Related articles
Former Mar
politicsA former Mar-a-Lago waitress has lifted the lid on what it was really like to work at Donald Trump's ...
【politics】
Read moreDiscover beauty of black pottery in SW China's Yunnan
politicsBy Du Mingming, Hu Zunhui (People's Daily Online) 16:22, November 20, 2023A craftsman makes black po ...
【politics】
Read moreThunder rout Mavericks 135
politicsOKLAHOMA CITY (AP) — Shai Gilgeous-Alexander scored 15 points in one half of action, and the Oklahom ...
【politics】
Read more
Popular articles
Latest articles
Inside Harry and Meghan's 'discreet' £3,000
Klauss, Bürki propel St. Louis City to 1
Flying Tigers members mark 80th anniversary of U.S. force's participation in China's resistance war
Shaolin Kung Fu competition enthralls martial arts enthusiasts in Oceania
Scottish Widows gave my ex
81st World Science Fiction Convention kicks off in Chengdu
LINKS
- Two suspects arrested in fatal shooting on Delaware college campus are not students, police say
- Fraternity removes member for ‘racist actions’ at Ole Miss
- I'm jealous of my husband's dead ex
- Paying college athletes appears closer than ever. How could it work and what stands in the way?
- Twyla Tharp dance will open 700
- Lidia Bastianich, Melody Thomas Scott and Ed Scott to receive Daytime Emmys lifetime achievement
- I was sent an explicit photo by a stranger on my birthday so I took hilarious revenge on him
- Now Take That fans are left fuming after venue change from crisis
- José Ramírez breaks Larry Doby’s team record for go
- Woman in Minnesota accused in the deaths of 2 children