Jim Chalmers Announces Australian Budget Deficit Lower Than Forecast

Australian Treasurer Jim Chalmers announced that the national budget deficit for the previous financial year is billions of dollars lower than the forecast provided in the May budget. In a video posted to X, Chalmers stated that the budget bottom line has improved since the election and is significantly better than the position the current government inherited.

Chalmers described the improvement as remarkable given current global economic conditions. He noted that the result is better than both the election forecasts and the figures presented in the most recent budget. Official figures confirming the deficit reduction are scheduled for publication on Monday.