The Australian | Debt $18.2bn worse than thought: Parliamentary Budget Office The Australian Treasury's prediction that the budget deficit will fall by $20 billion over the next three years is built on optimism about productivity growth and hopes the Senate will change its mind and approve $9.2bn in savings measures that it previously has blocked. Keating still casts a shadow Australia's fiscal deficit billions worse than expected, Commonwealth largely to blame National deficit projections balloon by $34.1 billion: Parliamentary Budget Office |