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Australia Eyes Second Budget Surplus Despite Iron Ore-Price Drop
Australia is pressing for a second consecutive budget surplus even as weakening commodity export prices and rising unemployment crimp revenue gains, Treasurer Jim Chalmers will say in a speech in Sydney. Chalmers is delivering a pre-budget address to the Committee for Economic Development of Australia on Thursday, when he will highlight that a falling iron ore price means smaller revenue upgrades. He will also signal that the fiscal blueprint expected to be handed down on May 14 will contain a broader focus than inflation, as economic growth slows and a per capita recession deepens. “In each of our first two ... (full story)