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flag Australia forecasts smaller deficits, rising debt, and steady growth through 2028/29.

flag The Australian Treasury has updated its fiscal forecast, projecting a slightly improved outlook with total deficits of $143.3 billion over the next four years, down from $151.7 billion. flag Deficits are expected to range from $34.3 billion to $36.8 billion annually, while government debt is projected to rise to $1.213 trillion by 2028/29. flag Economic growth is forecast at 2.25% in 2025/26, increasing to 2.75% by 2028/29. flag Inflation is expected to ease from 3.75% in 2025/26 to 2.5% by 2027/28 and remain stable. flag Wage growth is projected at 3.25% to 3.75%, and unemployment is expected to stay between 4.25% and 4.5%.

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