Australian Prime Minister Malcolm Turnbull (L) and Liberal candidate for the federal seat of Chisholm Julia Banks greet locals during a street walk in Oakleigh, in Melbourne's southeastern suburbs, July 8, 2016. AAP/David Crosling/via REUTERSAustralian Prime Minister Malcolm Turnbull looked almost certain to retain power after a bruising national election as key independent lawmakers pledged support and marathon vote counting in close-run electorates leaned in his favor on Friday. Yet as recently as the 2012/13 budget the peak had been projected to be less than 10 percent. 'Fiscal slippage'Treasurer Scott Morrison’s latest forecast was for net debt to peak at 19.2 percent of gross domestic product (GDP) by mid-2018. Turnbull's coalition is projected to hold 73 seats in the lower house, three short of the 76 it needs to form a government on its own.

Source: Thanhnien News July 08, 2016 06:56 UTC