(March 31): Australia will likely gain an unexpected multi-billion dollar windfall from the Iran war, as higher coal and gas export prices boost revenues over the five years to 2030, according to Westpac Banking Corp. The national budget will get about A$20 billion (RM55.35 billion) more revenue over that period, senior economist Pat Bustamante wrote in a report Tuesday. “Higher commodity prices and elevated inflation are lifting Treasury tax collections,” Bustamante wrote. “Gold is also delivering an underappreciated windfall,” Bustamante wrote, noting the yellow metal is poised to become Australia’s second‑largest export by value in the fiscal year ending in June, overtaking liquefied natural gas and coal. Still, “the budget remains deeply in deficit", and that shortfall is worse than almost any year since 1998, Bustamante wrote.

Source: The Edge Markets March 31, 2026 05:46 UTC