Australian deficit projected to hit $45 billion

Adelaide Now reports:

is facing deficits “as far as the eye can see’’ and next week’s Federal Budget is likely to be $41 billion in the red, respected economic forecasters have predicted.

The 2015-16 budget is likely to include a $41.3 billion deficit — a $14 billion deterioration since the December update, according to a report by Deloitte Access Economics to be released on Monday. The underlying cash deficit would be $45.3 billion.

And because of the Senate, the Government can’t get through policy changes to reduce the deficit. It may be a very long time until Australia gets back into surplus.

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