In Australia, Chalmers to present final budget results — ABC News Australia

In Australia, Treasurer Jim Chalmers and Finance Minister Katy Gallagher are expected to present the final results of the federal budget’s implementation for the 2025–2026 financial year. According to ABC News Australia, the deficit could be $6 billion smaller than forecast in the May budget.

Deficit forecast

In May, the Australian government forecast a federal budget deficit of $28.3 billion. The Final Budget Outcome document for the 2025–2026 financial year is expected to show a figure lower by $6 billion.

Chalmers and Gallagher are due to release these data as part of the final assessment of budget implementation. ABC News Australia describes the planned announcement as an improvement in the federal deficit forecast.

More current news is available on the UA.News Telegram channel Telegram.

Reserve Bank meeting

The release of the budget results is scheduled for the day before a meeting of the Reserve Bank of Australia. According to ABC News Australia, the regulator is likely to raise interest rates for the fourth time this year.

The Labor Party has repeatedly pointed out that Australia’s gross government debt as a percentage of GDP is lower than that of the United States, Canada and the United Kingdom.