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  • Australia fiscal 2005 budget surplus seen at 7-10 Billion Australian Dollars

    05/08/2005 12:16:41 PM PDT · by sully777 · 6 replies · 500+ views
    Sharewatch.com/AFX ^ | Last Updated: 6-May-2005 03.00
    SYDNEY (AFX) - Federal treasurer Peter Costello is expected to announce Tuesday evening a fiscal 2005 budget surplus of 7-10 bln aud as soaring company profits and a record low umemployment rate boost the government's coffers, economists said. They expect Costello to put his year to June 2006 budget surplus estimate at around 4.5 bln aud. At its mid-year economic review, the Treasury department estimated the budget surplus for the current financial year at 6.2 bln aud, or 0.7 pct of GDP, up from the original forecast of 2.4 bln aud made in last year's May federal budget. While some...