Economist Chris Richardson says figure well above earlier forecasts is a reminder of ‘how lucky the Lucky Country has been’
Get our morning and afternoon news emails, free app or daily news podcast
The federal budget is on track to smash its earlier surplus forecasts as the government rakes in much more revenue.
The underlying cash balance for the 12 months to May was $19bn, well above the $4.2bn surplus flagged for the 2022-23 financial year in the last federal budget.
More Stories
How Elon Musk has meddled in European affairs
Tram collision in Strasbourg leaves dozens injured
Two killed and four seriously injured in bus crash on German motorway