australian finance minister warns of tough spending
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Australian finance minister warns of tough spending

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Australian finance minister warns of tough spending

Canberra - Xinhua

Australian Finance Minister Penny Wong on Monday renewed her warning of deep spending cuts in the upcoming mini-budget, as the government struggles to keep its pledge to return to surplus in the next financial year. The budget bottom line has been hit hard by the global economic downturn and the uncertainty over the stability of Greece and Italy. Senator Wong told ABC News that the federal government is determined to return to surplus on schedule in 2012/13. However, she signaled that in order to achieve the surplus, the government will have to cut spending. \"We\'ve seen a weakening of the world economy. That\'s going to impact on our economy and our budget. That means some difficult decisions in the upcoming mid-year outlook,\" Senator Wong said on Monday. \"The government is focused on fiscal discipline - we know that gives the Reserve Bank more room to cut interest rates as they did last week.\" Meanwhile, Coalition finance spokesman Andrew Rob, who is skeptical the government will deliver a genuine surplus, said the federal government should have acted earlier to cut spending. \"If you look at the numbers, the spending, so much of it has been placed either side of 2012-13 so that they can manufacture a surplus... no-one will be fooled by that,\" Robb said. \"They\'ve got to be real cuts in real areas so that we can see that this government is serious about putting us back into some sort of strong position.\" The Mid-Year Economic and Fiscal Review (MYEFO) will be delivered by Treasurer Wayne Swan before the end of the year. Swan has earlier signaled the MYEFO will reveal a lower- than- estimated growth rate for the Australian economy.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australian finance minister warns of tough spending australian finance minister warns of tough spending

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

australian finance minister warns of tough spending australian finance minister warns of tough spending

 



GMT 11:03 2018 Tuesday ,23 January

No end to eyesores at Taj Mahal

GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 04:53 2016 Monday ,16 May

English Premier League results

GMT 05:06 2024 Tuesday ,06 February

New hunt for flight MH370 gets under way

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 13:13 2016 Wednesday ,14 December

Unarmed old man killed by police in California

GMT 15:00 2017 Wednesday ,08 March

1 killed, 2 missing due to Avalanche in French Alps

GMT 12:07 2017 Saturday ,25 February

Renault’s R.S.17 features Infiniti co-built ERS

GMT 12:52 2017 Saturday ,04 November

Belgium 'to study' Spain's EU warrant for Catalan leader

GMT 08:40 2017 Wednesday ,01 November

Miss Morocco launch her first charity program

GMT 16:26 2016 Friday ,04 November

All Black brothers in arms ready for rare double

GMT 08:21 2017 Saturday ,30 September

Al Sayed underlines economic improvement

GMT 10:27 2017 Wednesday ,13 December

Strikes kill 12 in rebel-run Yemen prison camp

GMT 10:52 2017 Saturday ,14 October

NGOs slam UN aviation agency plan
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice