Australian Budget Is $45 Billion Better, but Long Term Pain Expected: Deloitte

People gather at the Opera Bar as hospitality reopens in Sydney, Australia, on Oct. 16, 2021. Brook Mitchell/Getty Images

According to forecasts by Deloitte Access Economics, the budget deficit within the next four years will be $45 billion (US$33.4 billion) less compared to Treasury forecasts, but the long-term outlook for the budget is $60 billion (US$44 billion) worse.

Deloitte partner Chris Richardson said Australian taxpayers would get $45 billion back in their pockets because of the sound pre-Delta economy and tighter budget used to handle the Delta outbreak.