The post Australia rolls out new tax cuts, to cost A$17.1 billion over 5 years appeared on BitcoinEthereumNews.com.

Australian Treasurer Jim Chalmers presents 2025/26 budget and the Treasury’s key economic forecasts before the Parliament on Tuesday. Key highlights per Reuters “Australia rolls out new tax cuts, to cost A$17.1 billion over 5 years.” “2024/25 budget deficit seen at A$27.6 bln, 2025/26 deficit at A$42.1 bln.” “2026/27 budget deficit seen at A$35.7 bln, 2027/28 deficit of at A$37.2 bln.” “Australia sees net debt rising to 23.1% of GDP in 2028/29.” “CPI inflation seen at 2.5% in 2024/25, 3.0% in 2025/26 and 2.5% through 2027/28.” “Unemployment rate at 4.25% in 2024/25 and staying there through 2027/28.” “GDP growth seen at 1.5% in 2024/25, 2.25% in 2025/26, 2.5% in 2026/27.” Market reaction AUD/USD showed no immediate reaction to the budget announcement and was last seen trading flat on the day at 0.6285. Source: https://www.fxstreet.com/news/australia-rolls-out-new-tax-cuts-to-cost-a171-billion-over-5-years-202503250846

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Filed under: News - @ March 25, 2025 9:28 am