Against expectation, the Government will reach surplus a year earlier than forecast.
Treasury’s forecasting a $2.6 billion dollar surplus in the 2028/29 financial year - the first in a decade.
It’s a year earlier than predicted in December's Half Year Fiscal Update.
The forecast uses the OBEGALx measure, which excludes ACC.
Contributions to the Super Fund will also rise to $3.1 billion over the next four years, $2.2 billion more than expected.
Treasury’s predicting the economy will grow 1.2 percent this year - 0.5 percent lower than forecast in December, due to the ongoing oil price shock.
Growth will rebound to 2.3 percent next year, and 3.2 percent in 2028.
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