Budget deficit seen at $213.7B in 2020/21

Treasurer Josh Frydenberg and Prime Minister Scott Morrison had warned of a blowout in the budget. (AAP)

BUDGET POSITION FORECASTS (previous forecasts in brackets)

2020/21 - $213.7 billion deficit (* $184.5 billion deficit)

2021/22 - $112.0 billion deficit (# $8.4 billion surplus)

2022/23 - $87.9 billion deficit (# $4.0 billion surplus)

2023/24 - $66.9 billion deficit (n/a)

* July Economic and Fiscal Update

# Mid-Year Economic and Fiscal Outlook (December 2019)

Source: Treasury