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03.05.2016 22:49

Australian budget deficit is larger than previously expected

The Australian government released its annual budget on Tuesday. The government expects a deficit of A$39.9 billion in the current fiscal year, up from a December estimate of A$37.4 billion. The deficit is expected to decline to A$37.1 billion in the fiscal year 2017. Australian Treasurer Scott Morrison said that the budget would be balanced in the fiscal year 2021.

Morrison noted that the budget should support job creation and growth, and boost the economy.

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