Connect with us

Business

Federal budget 2021: Deficit trimmed to $161 billion as national debt heads towards $1 trillion – NEWS.com.au

Federal budget 2021: Deficit trimmed to $161 billion as national debt heads towards $1 trillion

Published

on

Article feature image

Australias deficit is $52.7 billion lower than expected this year thanks to a remarkable economic turnaround, but net debt will still peak at almost $1 trillion within four years. Red ink on the balance sheet is expected to reach $161 billion this year – down from the record $213.7 billion in the 2020-21 pandemic budget.
The deficit is forecast to drop to $57 billion by 2024-25.
Net debt is expected to increase to $617.5 billion, or 30 per cent of gross domestic product (GDP), and will continue…

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

CBA (ASX:CBA) and other banks hit by internet outage
Article feature image
Flying electric car takes off in South Australian desert ahead of Formula One-style races – The Guardian