Australian national debt
Encyclopedia
The Australian government had a budget deficit of $54.8 billion in 2009-10. The result was a $2.3 billion improvement on the $57.1 billion deficit estimated at the time of the May budget.
forecast that the Australian national debt would peak at $190 billion in June 2013, based upon improving economic conditions since the 2009 budget predictions.
Wayne Swan released the 2010-11 Mid-Year Economic and Fiscal Outlook (MYEFO). The MYEFO forecast slightly stronger growth, falling unemployment and rising inflation next year, while the Budget deficit for 2010-11 was projected to increase from a previously stated $40.8bn to $41.5bn. The surplus for 2013-14 is now projected to be lower at $3.3bn and net debt is now expected to peak at 6.4 per cent of GDP in 2011-12.
The Gross Australian federal debt as at 30 September 2011 was AUD$208.992 billion, with a net debt position of $80 billion, or 6% of GDP. [Total Commonwealth Government Securities on Issue] Australian federal budget.
Australia has the highest household debt to disposable income ratio
General:
Total debt
In 2009, Kevin Rudd forecast that the total federal debt would reach $300 billion by 2013. In May 2010, the National Australia BankNational Australia Bank
National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation and customers. NAB is ranked 17th largest bank in the world measured by market capitalisation...
forecast that the Australian national debt would peak at $190 billion in June 2013, based upon improving economic conditions since the 2009 budget predictions.
Wayne Swan released the 2010-11 Mid-Year Economic and Fiscal Outlook (MYEFO). The MYEFO forecast slightly stronger growth, falling unemployment and rising inflation next year, while the Budget deficit for 2010-11 was projected to increase from a previously stated $40.8bn to $41.5bn. The surplus for 2013-14 is now projected to be lower at $3.3bn and net debt is now expected to peak at 6.4 per cent of GDP in 2011-12.
The Gross Australian federal debt as at 30 September 2011 was AUD$208.992 billion, with a net debt position of $80 billion, or 6% of GDP. [Total Commonwealth Government Securities on Issue] Australian federal budget.
Australia has the highest household debt to disposable income ratio
See also
- Australian federal budget
- Taxation in AustraliaTaxation in AustraliaThere are many forms of taxation in Australia. Individuals and companies in Australia may be required to pay taxes or charges to all levels of government: local, state, and federal governments...
General:
- Government debtGovernment debtGovernment debt is money owed by a central government. In the US, "government debt" may also refer to the debt of a municipal or local government...
- Government budgetGovernment budgetA government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. For example, only certain types of revenue may be imposed and collected...
- List of sovereign states by public debt