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Australia economy seen stretching record run as budget back in black
Australia is expected to extend its enviable recession-free run of growth into a third decade, the government said on Tuesday even as it downgraded forecasts for the current fiscal year and the next two years. Despite that, the government was able to forecast a return to budget surplus in 2019/20 starting July 1, the first since 2007/08 before the global financial crisis hit. The improving budget position - the A$7.1 billion ($5 billion) surplus for 2019/20 was up A$3 billion from a December forecast - enabled the government to announce tax cuts and increased health, education and infrastructure spending ahead of a ... (full story)