Economics
Australia Budget Deficit Will Swell to 7.2% of GDP in 2020, 2021
The Queen Victoria Building on a near-empty street during a partial lockdown in Sydney.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
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Australia’s budget deficit will blow out to 7.2% of gross domestic product this fiscal year and in the 12 months through June 2021 as revenue collapses and spending soars in response to a virus-induced economic shutdown, Deloitte Access Economics said.