Original article by John Kehoe
The Australian Financial Review – Page: 5 : 22-Sep-23

The federal government will confirm on Friday that the budget surplus for 2022-23 was $22.1bn. This represents a significant turnaround from the $77.9bn deficit that former treasurer Josh Frydenberg had forecast in March 2022. It will also be the first surplus since 2007-08 and the first under a Labor government since Paul Keating was treasurer more than three decades ago. Treasurer Jim Chalmers says Labor has delivered a surplus while providing cost-of-living relief and investing in the long-term growth of the economy. The budget bottom-line was boosted by factors such as high commodity prices and rising income tax revenue due to a strong labour market.

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AUSTRALIA. DEPT OF THE TREASURY