Treasurer Josh Frydenberg has handed down his mid-year budget review and cut his forecast 2019/20 budget surplus to $5 billion MYEFO
The federal government has revised its budget surplus forecast for this financial year down to $5 billion in its mid-year review, amid a forecast revenue slump.
Australian Finance Minister Mathias Cormann speaks during a press conference as he hands down the Mid-Year Economic and Fiscal Outlook 2019/20. The Mid-Year Economic and Fiscal Outlook shows the government expects revenue will be down $3 billion on earlier projections, with forecasted revenue to be slashed by more than $32 billion.
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