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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Australia unveils record $44.1bln budget deficit AFP - Wednesday, May 13 CANBERRA (AFP) - - Australia will post a record 57.6 billion Australian dollar (44.1 billion US) deficit in 2009-10 as it battles the worst global recession since the Great Depression, Treasurer Wayne Swan said Tuesday. ADVERTISEMENT Swan said the centre-left Labor government needed to borrow money for stimulus measures to kick-start the ailing economy and offset a 210 billion dollar slump in revenues caused by the downturn. "The global recession has been unleashed on Australia with a brutal, uncompromising force," Swan told parliament. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Enlarge Photo Australian Treasurer Wayne Swan speaking at a press conference in Sydney, February 2009. Australia will post a record 57.6 billion Australian dollar (44.1 billion US) deficit in 2009-10 as it battles the worst global recession since the Great Depression, Treasurer Swan has said. Most Popular – Top Stories Viewed Australian zoo evacuated after orangutan escape British store admits it boobed in bra row Obese young men have less hope of marriage: study Venezuela oil takeovers may leave 22,000 jobless $70-80 good price for oil: French economy minister View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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