Australia Posts $14.2 Billion Budget Surplus for 2021-22, First in 15 Years Thanks to Commodities Boom

Australia reported a $14.2 billion budget surplus for 2021-22 fiscal year, first surplus in 15 years
Surplus was 0.9% of GDP, much higher than $2.8 billion forecasted in May
Treasurer said another surplus not expected in current fiscal year due to economic headwinds
550,000 jobs created since new government elected last year, unemployment at 3.7% in August
Strong commodities prices, especially coal, iron ore, and LNG, boosted corporate tax receipts by $8.1 billion over forecast

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10/15/2023

US Budget Deficit Jumps to $1.7 Trillion in 2023, IMF Urges Policy Changes to Address Inflation and High Rates

The US government's budget deficit reached $1.7 trillion in the 2023 fiscal year, exceeding the previous year's shortfall by $300 billion, prompting concerns from the International Monetary Fund about the country's fiscal situation.

10/21/2023

U.S. Budget Deficit Soars to $1.7 Trillion as Revenues Drop and Spending Rises

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