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Australia's net government debt as percentage of GDP in the 2016–17 budget was estimated at 18.9% ($326.0 billion); much lower than most developed countries. [19] The budget forecasted that net government debt would increase to $346.8 and $356.4 billion in 2017–18 and 2018–19 respectively.
The final budget outcomes for 2022–23 delivered a surplus of $22.1 billion (equivalent to 0.9% of Australia’s GDP), which was well above the government's forecasted surplus of $4.3 billion; this is Australia's first budget surplus in 15 years, and the largest ever Australian budget surplus. [11]
An Australian federal budget is a document that sets out the estimated revenues and expenditures of the Australian Treasury in the following financial year, proposed conduct of Australian government operations in that period, and its fiscal policy for the forward years. [1] Budgets are called by the year in which they are presented to ...
The 2024 Australian federal budget was delivered on budget night at 7:30pm on Tuesday, 14 May 2024 by Treasurer Jim Chalmers. [2] The budget will dictate how the Australian Government will allocate an estimated A$715 billion across the federal government, and to state and territory governments. [1] It is the third federal budget handed down by ...
In May 2023, Chalmers handed down the Albanese government's second budget. The budget delivered a surplus of $22.1 billion (equivalent to 0.9% of Australia's GDP), which was well above the government's forecasted surplus of $4.3 billion; this was Australia's first budget surplus in 15 years, and the largest ever Australian budget surplus.
Westpac expects a A$9.4 billion surplus this year, though that will likely swing to a deficit of $10.1 billion in 2024/25 in part as the cost of past borrowing mounts. ($1 = 1.5158 Australian dollars)
Debt. $238.7 billion (net debt) [1] Website. www.budget.gov.au /2014-15 /. ‹ 2013. 2015 ›. The 2014 Australian federal budget was the federal budget to fund government services and operations for the 2014/15 financial year. The 2014 budget was the first delivered by the Abbott government, since the Coalition's victory in the 2013 Australian ...
Rudd government (2007–2010) The first Rudd government was the executive Government of Australia formed by the Australian Labor Party (ALP) and led by Prime Minister Kevin Rudd. The Rudd government commenced on 3 December 2007, when Rudd was sworn in along with his ministry. This took place just nine days after the defeat of the Howard ...