Australia recorded a Government Budget deficit equal to 1.40 percent of the country's Gross Domestic Product in 2022. Government Budget in Australia averaged -1.02 percent of GDP from 1971 until 2022, reaching an all time high of 2.20 percent of GDP in 1971 and a record low of -6.60 percent of GDP in 2021. source: Australian Government

Government Budget in Australia is expected to reach -0.60 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Government Budget is projected to trend around -1.30 percent of GDP in 2025 and -0.70 percent of GDP in 2026, according to our econometric models.

Related Last Previous Unit Reference
Credit Rating 100.00 Apr 2024
Fiscal Expenditure 54531.00 51457.00 AUD Million Mar 2024
Government Budget -1.40 -6.60 percent of GDP Dec 2022
Government Budget Value -2376.00 17075.47 AUD Million Mar 2024
Government Debt 526420.00 520543.00 AUD Million Mar 2024
Government Debt to GDP 22.30 28.60 percent of GDP Dec 2022
Government Revenues 52155.00 68533.00 AUD Million Mar 2024
Government Spending 134015.00 133274.00 AUD Million Dec 2023
Government Spending to GDP 26.80 31.60 percent of GDP Dec 2022
Military Expenditure 32340.00 32445.30 USD Million Dec 2023

Australia Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-1.40 -6.60 2.20 -6.60 1971 - 2022 percent of GDP Yearly