Current location:Horizon Herald news portal > politics
Australian gov't confirms 2nd consecutive budget surplus
Horizon Herald news portal2024-05-16 23:36:42【politics】9People 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)
Address of this article:http://benin.arnoldview.org/article-33f998999.html
Very good!(11195)
Related articles
- China and Cambodia begin 15
- Revealed: It costs £42,000 to support a child through 3 years of university
- Labour's flip
- Iowa law allows police to arrest and deport migrants. Civil rights groups are suing
- Kroos criticizes match officials for offside call in Bayern
- Petition presented to east London council accuses Government's anti
- Petition presented to east London council accuses Government's anti
- US says Rafah offensive would jeopardize cease
- Javier Assad shuts down Braves as Cubs roll to 7
- He's out! Monty Panesar pulls stumps on his bid to become an MP for George Galloway's party as ex
Popular articles
- George Clooney, 63, to make Broadway debut in adaptation of his 2005 film Good Night, and Good Luck
- Bank of England edges closer to rate cut, possibly in June, as it predicts below
- Winner of North Macedonia's parliamentary election to seek governing coalition partner
- Harvey Weinstein won't be extradited to California while he awaits New York rape retrial
Recommended
Rory McIlroy says PGA Tour is 'worse off' without Jimmy Dunne on board
REVEALED: The truth about the real
I got top grades in my GCSEs
The Taliban warn journalists, experts against cooperating with Afghanistan International TV
Sebastián Driussi scores a team
University professor is fired after being caught upskirting women with hidden camera on his SHOE
Family make last
Scottish Power says our meters are too old
Links
- Finnish carrier will resume Estonia flights in June after GPS interference prevented landings
- One Tech Tip: Protecting your car from the growing risk of keyless vehicle thefts
- Díaz's 2
- 7 postal workers charged with mail theft from Rhode Island distribution hub
- Ship that struck Baltimore bridge had 4 blackouts before disaster
- Cannes Film Festival: Chris Hemsworth looks loved
- Ogunbowale owns fourth quarter, Wings pull away from Sky 87
- Butorac's goal in the 2nd overtime gives Minnesota a 1
- Why Barron is 'little Melania': How protective first lady is keeping her son, 18, in a Mar
- Ten Hag addresses Man United fans after winning last home game of season. Chelsea beats Brighton