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Australia Reports A$22.3 Billion Deficit, A$6 Billion Below Forecast

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Courtroom-sketch editorial illustration of Australia's Parliament House in Canberra, with its flag mast above the lawn; archival government context, not the budget announcement, rendered in warm ochre and slate-blue pastel strokes.

Australia's federal government reported an A$22.3 billion underlying cash deficit for 2025–26, equal to 0.8% of GDP. The final outcome was A$6 billion smaller than the A$28.3 billion deficit estimated in the 2026–27 Budget, according to a joint release from Treasurer Jim Chalmers and Finance Minister Katy Gallagher on September 28. Payments were A$1.4 billion below the budget estimate, while tax receipts were A$4.6 billion higher. The ministers attributed the stronger receipts partly to superannuation fund and investment income.

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