Australia doubles budget surplus estimates, confirms strong growth rate
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Australia's Treasury more than doubled its forecast of federal budget surpluses over the next four years, vastly expanding the war chest available for election promises by the conservative government and its Labor Party rival.
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Australian Treasurer Peter Costello raised the government&#39;s forecast budget cash surplus for the year ending June 30, 2005, to A$6.2 billion ($4.7 billion) because of increased company taxes.
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China's trade surplus has surged to an almost record level in February, official state figures show.
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German Gross Domestic Product grew unexpectedly strongly in the second half of last year.
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Australia's central bank said the country's financial system is sound and ongoing economic growth has created a favourable outlook for financial stability.
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The economy grew at a faster than expected annual rate during the second quarter of 2007, official data showed on Wednesday.
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OTTAWA - Canada is on track to post a budget surplus of $5.9 billion when the federal government&#39;s current fiscal year ends in March, Finance Minister Ralph Goodale said Tuesday.
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The surplus hit $22.5 billion, up 73 percent from last May, the Chinese customs agency said Monday on its Web site.
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Australia pared its economic growth forecast yesterday because of sluggish exports, as expected, but said rising tax receipts would boost the country&#39;s budget surplus.
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By staff writers and wires. AUSTRALIAN company profits jumped 10.3 per cent in the June quarter thanks to robust consumer and business spending that will boost economic growth outcomes and the electoral prospects of the Howard Government.
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BEIJING -- China's booming economy grew even faster last year than originally thought, the government said yesterday, as authorities made public another measure meant to rein in the growth they fear could create problems.
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Federal procurement spending in the Washington area rose last year at its highest rate since the 1980s, according to a study to be released today, creating tens of thousands of jobs and increasing economic growth disproportionately in Northern Virginia.
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Canada recorded aC$9.1 billion ($7.9 billion) budget surplus in fiscal 2004, five times the government&#39;s forecast, as accelerating economic growth generated a tax windfall for Finance Minister Ralph Goodale.
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ANZ reported a record rise in post tax operating profit today, announcing a 20 per cent jump to $2.8 billion for the year ending September 2004.
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The Australian government has defended its big-spending election promises as opponents and some economists claimed its new commitments would push up the very interest rates it is promising to hold back.
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By MARK METHERELL, MATT WADE, TOM ALLARD and COSIMA MARRINER. Australia&#39;s prime minister John Howard has proffered $A1 billion in new handouts to older Australians two days after Labor&#39;s $A2.
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The bond market rallied and a government report on retail sales exceeded economistsâ estimates.