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AAP
AAP
Business
Poppy Johnston

Federal budget back in black for first time in 15 years

Federal Treasurer Jim Chalmers says the budget surplus lays the foundations for a brighter future. (Lukas Coch/AAP PHOTOS)

Sky-high prices for Australia's commodity exports and robust jobs growth have helped the federal government land a record $22.1 billion surplus.

Federal finances are still expected to fall back into deficit in this 2023/24 year, based on Treasury forecasts, although a second surplus cannot be ruled out given the uncertain economic environment.

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