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Australia's Ever-Growing Debt Pile Set to Peak Within Six Years

  • Budget to show deficit narrowing in coming years: Morrison
  • Government hasn't achieved a fiscal surplus since 2007-08
Australian Treasurer Scott Morrison.

Australian Treasurer Scott Morrison.

Photographer: Mark Graham/Bloomberg
Updated on

Australia’s drive to balance the books will see the federal government’s debt pile top out within about five or six years and then start to shrink again, according to Treasurer Scott Morrison.

Speaking in Canberra just ahead of his first budget on Tuesday, Morrison said he expects the fiscal deficit to narrow over the government’s four-year forecast horizon and pledged to keep expenditure under control.