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Business Matters: Australia delivers its first budget surplus in 15 years

Australia delivers its first budget surplus in 15 years

09/05/2023 GMT

BBC World Service - Business Matters, Australia delivers its first budget surplus in 15 years

Australia still facing domestic economy slowdown and high interest rates

According to Australian media, the government will deliver a slim surplus amid windfall revenue from high export prices and tax revenue from low unemployment.

Australia is setting up the final touches to its annual budget statement. It's projected to record a $4 billion surplus this financial year. The government will also set aside millions for wage rises for care workers and extend financial support for single parents, while banking most of the savings to put budgets on a more sustainable footing.

(Picture: The Treasury, Australia. Picture Credit: Getty Images)

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