Australian Treasurer Jim Chalmers has revealed that the federal budget’s bottom line improved by $50 billion (US$33.4 billion) in the 2021-2022 financial year. However, he warns that the turnaround is temporary.
The treasurer said the final budget outcome for the 2021-2022 financial year, which is due to release in full on Sept. 28, would be $50 billion higher than previous forecasts due to an increase of $28 billion in revenue and a drop of $20 billion in spending.
