Australia’s Chalmers Says Debt Level Will Be Lower Than Expected

Australia’s mid-year budget update will reveal a lower-than-expected level of debt, Treasurer Jim Chalmers said.

Forecast gross debt in the year ending June 2024 will be close to A$900 billion ($592 billion) down from earlier projections of more than a trillion dollars, he told reporters Sunday in Sydney. The mid-year economic and fiscal update will be released on Wednesday, he said.