Budget Improves by Billions, but Petrol Pain About to Grow The Australian government's budget numbers have taken a welcome turn for the better, with a revised forecast of a $23 billion deficit for the just completed financial year – a $5 billion improvement on initial projections.
Gross debt has also dropped, falling below $971. 4 billion.
However, this improvement is being undone by the looming threat of war between the United States and Iran, which is sending shockwaves through the global energy market.