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People visit the Christmas display windows at David Jones in the central business district (CBD) in Sydney, Australia on Dec. 6, 2024. Lisa Maree Williams/Getty Images
Australia’s Mid‑Year Economic and Fiscal Outlook (MYEFO) revealed a widening gap between government spending and the amount of revenue coming in.
The combined deficit over the next four years is projected to reach $143.9 billion (US$89.57 billion), about $21.8 billion worse compared to prior forecasts.
