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AAP

Business

Budget deficit forecast to improve

Treasury has forecast the budget deficit to decline from an improved $161 billion this year. (AAP)

BUDGET POSITION FORECASTS

(*previous forecasts in brackets)

2020/21 - $161.0 billion deficit ($197.7 billion deficit)

2021/22 - $106.6 billion deficit ($108.5 billion deficit)

2022/23 - $99.3 billion deficit ($84.4 billion deficit

2023/24 - $79.5 billion deficit ($66.0 billion deficit)

2024/25 - $57.0 billion deficit (n/a)

*Mid-Year Economic and Fiscal Outlook (December 2020)

Source: Treasury

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