Australia Government Budget

Australia recorded a Government Budget deficit equal to 3 percent of the country's Gross Domestic Product in 2011/12 fiscal year. Government Budget in Australia is reported by the Australian Government, ADB. Historically, from 1979 until 2012, Australia Government Budget averaged -0.85 Percent of GDP reaching an all time high of 2 Percent of GDP in June of 2000 and a record low of -4.30 Percent of GDP in June of 2010. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page includes a chart with historical data for Australia Government Budget.

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Government Budget | Notes

A government budget is a legal document that forecasts the government expenditures and revenues for a specific period of time. The period covered by a budget is usually a year, known as a financial or fiscal year, which may or may not correspond with the calendar year. A government budget is often passed by the legislature, and approved by the chief executive or president.






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