RBA profits reduce Budget deficit

Posted on 18/09/2009  

The worldwide economic downturn has delivered the Federal Government a windfall via Reserve Bank profits from supporting the Australian dollar. The RBA has handed the Government a record $5.2 billion as a partial payment of its FY2010 dividend, allowing the Budget deficit to be reduced. The Government has received another boost from higher-than-expected tax revenue, as the economy recovers faster than predicted.

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