Free Trial
NZD

Firmer, Fills Opening Gap

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: Aussie Budget Sees Net Debt At AUD1.16tln By '25/26

MNI (PERTH)
MNI (Perth)

Australia's Treasury forecasts that net debt will grow to AUD1.16 trillion by 2025-26 and cost cumulative net interest payments of AUD76.1 billion over that period, according to Budget papers released Tuesday.

Despite revenue being revised up by AUD58.7 billion in 2022-23 and AUD157.7 billion over the four years to 2025-26, the Budget forecasts a cumulative AUD181.8 billion in deficits out to 2025-26 amid rising costs for the National Disability Insurance Scheme, increased defence spending and higher interest costs on government borrowing. Gross debt as a percentage of GDP is expected to climb from 37.3% in 2022-23 to 43.1% in 2025-2026, with a longer term projection of 46.9% in 2032-33.

Keep reading...Show less
204 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Australia's Treasury forecasts that net debt will grow to AUD1.16 trillion by 2025-26 and cost cumulative net interest payments of AUD76.1 billion over that period, according to Budget papers released Tuesday.

Despite revenue being revised up by AUD58.7 billion in 2022-23 and AUD157.7 billion over the four years to 2025-26, the Budget forecasts a cumulative AUD181.8 billion in deficits out to 2025-26 amid rising costs for the National Disability Insurance Scheme, increased defence spending and higher interest costs on government borrowing. Gross debt as a percentage of GDP is expected to climb from 37.3% in 2022-23 to 43.1% in 2025-2026, with a longer term projection of 46.9% in 2032-33.

Keep reading...Show less