The Mid-Year Economic and Fiscal Outlook confirms the strength of the Australian economy and that the Budget will return to surplus as part of the Government's plan to guarantee the essential services which Australians rely on.The underlying cash balance is forecast to improve from a $14.5 billion deficit at Budget to a $5.2 billion deficit in 2018-19.
The Budget is now expected to reach a surplus of $4.1 billion in 2019-20.
This will be the first surplus since the final budget of the Howard Government in 2007-08.
