The federal government has been holding onto its forecast for a surplus in the 2015-16 budget but it’s looking increasingly unlikely.
The federal government has been holding onto its forecast for a surplus in the 2015-16 budget but it’s looking increasingly unlikely. The price of oil has hit revenues hard and today the Office of the Parliamentary Budget Officer said it expected a small deficit even after the $3 billion contingency fund is factored in. Its figures assume an oil price of $48 a barrel; higher than current market values; but if there was to be a rise to $60 there could still be a surplus.
