“The Australia economy is now pulling out of one of the toughest periods we have faced in generations,” Morrison told Parliament. “As a result of this fiscal discipline, the government has turned the corner on net debt,” he said in a budget document. Total government revenue for the next fiscal year is expected to be AU$486.1 billion ($365 billion), up 6.6 per cent from the current year. Government expenses next year were expected to fall 4.2 per cent from the current year to AU$488.6 billion ($367 billion). The government plans to spend more the AU$75 billion ($56 billion) on infrastructure projects including road and rail in this decade.

Source: National Post May 07, 2018 23:38 UTC