Australian government debt is set to hit the $1 trillion mark sooner than Treasury forecast. Interest payments on this debt are now expected to surge.

SYDNEY, Dec 17 (Reuters) - Australia's government on Wednesday revised the outlook for inflation sharply higher but it still added to its annual spending plans, leaving it up to monetary policy to ...

Australia will book A$20 billion ($13.3 billion) in savings in Wednesday’s mid-year budget update as the government works to offset rising spending pressures, Treasurer Jim Chalmers said. The update ...