Implications of declining government debt for financial markets and monetary operations in Australia - BIS papers No 12, part 2, August 2002
نویسندگان
چکیده
Like a number of countries, Australia has undergone a substantial fiscal consolidation in recent years and a consequent reduction in government debt. On a cash basis, the Commonwealth government moved into surplus in the 1997/98 fiscal year, and has since run an average surplus of around 1% of GDP. Official projections over the next three years are for surpluses of similar magnitude to be maintained, resulting in substantial further reductions in the government’s net debt.
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