Australia’s rapid recovery brings Budget surplus into sight

Australian finance minister Katy Gallagher says there’s been “significant improvement” in Australia's fiscal position. (Image: Getty)

Bloomberg

Fri, 05 May 2023

By Ben Westcott and Swati PandeyAustralia’s fiscal coffers are rapidly refilling as high commodity prices and near-full employment bring windfall tax revenue, raising the possibility of the country recording its first budget surplus in 15 years.With just over a week to go until the budget is released, Finance Minister Katy Gallagher acknowledged there’s been “significant improvement” in the fiscal position while avoiding answering a direct question about whether the books would be back in the black. Bloomberg Econom...

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