- The Australian budget deficit will be higher than previously estimated
Market news
15 December 2015
The Australian budget deficit will be higher than previously estimated
The Australian Treasury Ministry released its Mid-Year Economic and Fiscal Outlook on Tuesday. The Australian budget deficit is expected to expand to A$37.4 billion in 2015-16, up from a deficit of A$35.1 billion estimated in May. The rise was driven by a drop in commodity prices, weak wage growth and subdued economic outlook.
The Australian economy is expected to grow at 2.5% in 2015-16, down from a 2.75% rise estimated in May.
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