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Filling re-election coffers, Australian govt sees bigger budget surpluses ahead

Reuters  |  SYDNEY 

SYDNEY (Reuters) - Australia's conservative government on Monday forecast the country's strongest budget outlook in 10 years, arming Prime Minister Scott Morrison with a war chest large enough to allow for possible tax cuts ahead of an election in less than six months.Treasurer Josh Frydenberg said Australia's budget deficit for the fiscal year to June 2019 would shrink to A$5.2 billion ($3.7 billion), from the A$14.5 billion projected back in May.Australia will then deliver a budget surplus by 2019/20, ending more than a decade of deficits. "The combination of a growing economy with a ...

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First Published: Mon, December 17 2018. 09:12 IST