Business News

After 44 years of deficits, we've a current account surplus. What went so right?

Written by Peter Martin., Visiting Fellow, Crawford School of Public Policy, Australian National University

Some things went wrong and some things went right. The resulting current account surplus is neither good nor bad.Shutterstock/ABS

Australia has been in a current account deficit – paying more money out to the rest of the world than it took in – for 44 straight years, since September 1975.

Until today. The update from the Bureau of...

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