Australian budget deficit soars amid slow economic growth

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
State budget deficit in Australia will most likely jump during the current financial year, as the country observes increasing unemployment, slowing economic growth, while the stronger national currency leads to decline in manufacturing industry. Australian Treasury expects the deficit to reach $28.8 billion this year, while the budget balance will be returned not earlier than in 2015-16.
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