Tuesday, January 27, 2009

$40b budget deficit: NAB

A weaker economy, more industry bailouts and a huge stimulus spend are likely to push the Federal budget into a $40 billion deficit next financial year, the National Australia Bank says. A 2009-10 budget blow-out, spelling a dramatic reversal of Australia's run of surpluses, would arise due to a weaker economy and the need for more economic rescue packages, NAB economist Jeff Oughton said today. >> more Chris Zappone

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