Australian government data released for 2018/2018 (Australia operates on a July to June financial year)
Underlying cash deficit of AUD $10.1 billion
- $19.3 billion improvement on budget forecast
net operating deficit $4 billion
- $15.8 billion improvement on the deficit estimate of $19.8 billion
Total revenue was $456.3 billion
- 11.9 billion higher than budget estimate
Tax collected was $427.4 billion
- 12 billion higher than expected
Total expenses were $460.3 billion
- 4 billion under the estimate
But I thought we wuz all doomed?
