How much did the Australian Government spend in 2016?
2016 Australian federal budget
| Submitted | 3 May 2016 |
|---|---|
| Party | Liberal/National Coalition |
| Treasurer | Scott Morrison |
| Deficit | A$37.1 billion |
| Website | budget.gov.au |
Is Australia in a budget surplus or deficit?
It had to spend big to stimulate Australia out of its first recession in three decades – leading to a record deficit of $213 billion being announced in the 2020 budget.
What was Australia’s deficit in 2019?
$85.3 billion
The Australian Government general government sector recorded an underlying cash deficit of $85.3 billion in 2019-20.
What is Australia’s 2020 budget?
The Australian Government general government sector recorded an underlying cash deficit of $134.2 billion in 2020-21. This compares with a forecast deficit of $213.7 billion at the time of the 2020-21 Budget, and a forecast deficit of $161.0 billion at the time of the 2021-22 Budget.
When was Australia in surplus?
In mid-2019, the current account went into surplus for the first time since 1975. This was mainly due to a very large trade surplus, meaning that the value of goods and services exported by Australia to the rest of the world exceeded the value of goods and services imported.
How much did Australia spend on Covid?
The COVID-19 pandemic continues to present new challenges and the Government’s economic support continues to evolve. The 2021-22 Budget committed an additional $41 billion in direct economic support, bringing total support since the beginning of the pandemic to $291 billion as of May 2021.
Who does Australia owe its national debt to?
Around two-thirds of Australian government debt is held by non-resident investors – a share that has risen since 2009 and remains historically high.
When was the last time the Australian budget was in surplus?
The Australian Government general government sector recorded an underlying cash surplus of $19.7 billion (1.7 per cent of GDP) for 2007-08.
What was Australia’s debt in 2008?
60.451
Australian government debt
| Date (30 June) | Gross debt (A$ billion) | Debt ceiling (A$ billion) |
|---|---|---|
| 2007 | 58.273 | 75 |
| 2008 | 60.451 | 75 |
| 2009 | 101.136 | 200 |
| 2010 | 147.123 | 200 |
What is the Budget outcome in Australia?
Australia is projected to record a Government Budget deficit equal to 7.80 percent of the country’s Gross Domestic Product in 2021/22 fiscal year. source: Australian Government.
What is the current budget deficit in Australia?
Instead, according to Tuesday’s budget, the underlying cash deficit is a hefty $79.8bn. It could have been a lot worse, and a large part of the 2022-23 budget involves highlighting that the outlook is improving almost by the day. Over the forward estimates to 2025-26, the underlying deficits will total almost $225bn.
What caused Australias current account surplus?
Balance of Payments components Head of International Statistics at the ABS, Andrew Tomadini, said: “Australia’s September quarter record current account surplus was driven by strong prices for exports of coal and other mineral fuels as well as greater volumes of agricultural exports.
What was the federal deficit in 2016?
$587 billion
In 2016, the budget deficit rose for the first time in a number of years, totaling $587 billion—about one-third more than the $438 billion shortfall recorded in 2015. As a percentage of GDP, the deficit increased from 2.4 percent in 2015 to 3.2 percent, the first such increase since 2009.
How much did the Australian Government spend in 2018?
A$484.6 billion
2018 Australian federal budget
| Submitted | 8 May 2018 |
|---|---|
| Total revenue | A$473.7 billion |
| Total expenditures | A$484.6 billion |
| Tax cuts | A$13.4 billion (over 4 years) |
| Deficit | A$14.5 billion |
How much did the Australian Government spend in 2020?
This expenditure is expected to peak at $82.5 billion in 2020-21, or around 12.3 per cent of Government expenditure in 2020-21 before declining substantially in subsequent years. This reflects that the economic response to COVID-19 is anticipated to be temporary.
How much did the government spend in 2017?
$4.147 trillion
2017 United States federal budget
| Submitted | February 9, 2016 |
|---|---|
| Submitted to | 114th Congress |
| Total revenue | $3.644 trillion (requested) $3.316 trillion (actual) 17.3% of GDP |
| Total expenditures | $4.147 trillion (requested) $3.982 trillion (actual) 20.8% of GDP |
| Deficit | $503 billion (requested) $665 billion (actual) 3.5% of GDP |
What was the deficit in 2017?
$665 billion
The budget deficit was $665 billion in 2017. U.S. debt is considered one of the safest investments in the world and interest rates remain low, which is why the government has been able to borrow money at cheap rates to finance the large annual deficits. But the costs are adding up.
How much did the Australian government spend in 2020?
What was Australia’s deficit in 2020?
The Australian Government general government sector recorded an underlying cash deficit of $134.2 billion in 2020‑21.
How much debt is Australia in 2018?
531.937
Australian government debt
| Date (30 June) | Gross debt (A$ billion) | Debt as share of GDP |
|---|---|---|
| 2016 | 420.412 | 40.4% |
| 2017 | 500.979 | 41.0% |
| 2018 | 531.937 | 41.4% |
| 2019 | 541.992 | 41.8% |
How much has the Australian Government spent on Covid-19 vaccine?
Our investment The Australian Government has invested over $8 billion in the national COVID-19 vaccine rollout. We have also invested over $350 million in vaccine research and development. We are rolling out several approved vaccines.