Australia Sees Surplus in 2014 as Forecast Slips on Revenue Drop
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Australia’s budget should return to surplus in 2014 even as a drop in tax revenue forced the government to give up a pledge to balance its books in the current fiscal year, the country’s trade minister said.
The original target of a surplus in the fiscal year ending June 2013 could be achieved if positive signs around household spending continue through the rest of the year, Craig Emerson said in an interview on Sky News television yesterday. The country’s Treasurer Wayne Swan said Dec. 20 the government was unlikely to have a surplus because of a fall in tax revenues.