Australia’s Budget Position Deteriorates Since September Poll
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Australia’s Liberal-National government, which took power seven weeks ago, says the budget position has worsened since its election victory, with the $1.5 trillion economy struggling for momentum in non-mining sectors.
“The reality is that we are in challenging times,” , Finance Minister Mathias Cormann said in a Sky News interview yesterday. The new government has inherited “not just a bad position at the time of the election but a position that continues to deteriorate,” he said.