Australia’s Net Debt to Reach $616.6 billion in 2026-27
While the figure is significantly higher than the estimates for 2025–26 and 2024–25, it is lower than the Mid-Year Economic and Fiscal Outlook (MYEFO) forecast.
Treasurer Jim Chalmers holds a copy of the 2026 budget while speaking with the media at Australian Parliament House in Canberra, Australia, on May 12, 2026. Hilary Wardhaugh/Getty Images
The Labor government is projected to slow the growth of net debt in the 2026–27 financial year compared with previous forecasts.
According to the newly released budget paper (pdf), net debt is forecast to reach $616.6 billion (US$445.5 billion), or 19.9 percent of GDP, in 2026-27.
Rex Widerstrom is a New Zealand-based reporter with over 40 years of experience in media, including radio and print. He is currently a presenter for Hutt Radio.
