Australia's Budget Blows Out as Growth Slows, Iron Ore Slumps

  • Forecast for iron ore price cut by almost 20% to $39 a ton
  • Budget poses challenge as government enters election year

Why Australia's Budget Blow Out May Not Be So Bad

Australian Treasurer Scott Morrison is reframing the government’s economic narrative toward growth and jobs and away from austerity, bowing to the fiscal reality of plunging commodity prices and recession-level wage growth.

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