Australia Budget deficit under forecasts: Treasurer

Australia's government budget deficit will undershoot market forecasts and keep improving over time, Treasurer Joe Hockey said just hours before delivering his annual policy package. 

PHOTO: BLOOMBERG

MAY 12, 20157:00 AM

[SYDNEY] Australia's government budget deficit will undershoot market forecasts and keep improving over time, Treasurer Joe Hockey said just hours before delivering his annual policy package.

Speaking to the press, Hockey said the market was forecasting a shortfall of around A$40-A$41 billion but the actual deficit would "beat that".

Mr Hockey said the budget would set a credible trajectory back to surplus and was the "right budget for the times".

REUTERS