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The Independent UK
The Independent UK
National
Rod McGuirk

Australia's government posts $14.2 billion budget surplus after 15 years in the red

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Australia’s government reported Friday that it had a budget surplus of 22.1 billion Australian dollars ($14.2 billion) in the last fiscal year, the first time the nation’s books have been balanced in 15 years.

The government cited low unemployment and high prices for the country's commodities, including iron ore, coal and gas. The surplus was equivalent to 0.9% of Australia's GDP,

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