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AAP
AAP
Business
Jacob Shteyman

Borrowing blowout tipped in mid-year budget update

Treasurer Jim Chalmers is facing headwinds as he prepares to hand down a budget update. (Mick Tsikas/AAP PHOTOS)

Australia is running out of financial luck, with a budget update tipped to show public borrowing climbing to levels seen during the global financial crisis.

Economists expect the government's fortuitous run of ultra-positive budget revisions to end in the Mid-Year Economic and Fiscal Outlook, likely to be revealed mid-week.

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