Australia recorded a Government Budget deficit equal to 4.30 percent of the country's Gross Domestic Product in the 2019-20 fiscal year. source: Australian Government

Government Budget in Australia averaged -0.83 percent of GDP from 1971 until 2020, reaching an all time high of 2.20 percent of GDP in 1971 and a record low of -4.30 percent of GDP in 2020. This page provides - Australia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Government Budget - values, historical data and charts - was last updated on July of 2021.

Government Budget in Australia is expected to reach -5.60 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Government Budget is projected to trend around -4.20 percent of GDP in 2022 and -3.00 percent of GDP in 2023, according to our econometric models.

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Australia Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-4.30 0.00 2.20 -4.30 1971 - 2020 percent of GDP Yearly

Australia Government Last Previous Highest Lowest Unit
Government Debt to GDP 24.80 19.20 24.80 -3.40 percent of GDP [+]
Government Budget -4.30 0.00 2.20 -4.30 percent of GDP [+]
Government Budget Value 6809.00 6957.00 14307.00 -36988.00 AUD Million [+]
Government Spending 104151.00 104697.00 104697.00 9725.00 AUD Million [+]
Government Revenues 55260.00 49578.00 55260.00 510.00 AUD Million [+]
Fiscal Expenditure 48451.00 42621.00 79545.00 790.00 AUD Million [+]
Credit Rating 100.00 [+]
Military Expenditure 27618.00 26079.00 27618.00 2793.00 USD Million [+]
Government Spending To GDP 27.70 24.50 27.70 18.30 percent of GDP [+]
Government Debt 583023.00 591679.00 619465.00 -50019.00 AUD Million [+]


Australia Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.