Treasurer Jim Chalmers will announce a small budget surplus on Tuesday evening, the first in 15 years primarily driven by record-high iron ore, coal, and gas prices.
The $4 billion (US$2.7 billion) surplus for the 2022-23 financial year is expected to be short-lived, and the budget will soon dip back into deficit as commodity prices return to normal and welfare payment and defence costs soar.
