SYDNEY: Australia's government expects its budget deficit to come in around A$99.2 billion ($71.07 billion) in the 2021/22 fiscal year, down slightly on initial projections but above the expectations of most analysts.
Treasurer Josh Frydenberg on Thursday said the deficit was down from a May projection of A$106.6 billion thanks to a stronger economic recovery and strength in the labour market.
Analysts had thought the deficit would come in around A$75 billion, suggesting the government was planning more spending ahead of a general election due by May next year.
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