Money magazine Comments - The country could be in debt for $184 billion - should you be worried? National debt is very different to household debt, but should you be worried that the government expects the budget deficit to hit $184 billion next year? https://www.moneymag.com.au/feed/latest?story=169211555 Sat, 25 Jul 2020 17:09:12 +1000 Sat, 25 Jul 2020 17:09:12 +1000 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - The country could be in debt for $184 billion - should you be worried? https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Shaun Campbell ()

Hey Dale,

In your article you mention,

"In 2019, Australia's debt to GDP was 41.80%, and after Thursday's announcement, this will rise even further"

I read this after reading David Thornton's article, "There's no sugar-coating it: the next few years are looking grim", where he mentions,

"net debt is expected to be $488.2 billion, or 24.6% of GDP, at 30 June 2020 and increase to $677.1 billion, or 35.7% of GDP, by 30 June 2021".

Does your reference to 2019 mean as at 30 June 2019? Are you both referring to the same thing, because neither 24.6% nor 35.7% are higher than 41.8% so I am a bit confused as to what the real figures are.

Many thanks.

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]]> Shaun Campbell () Sat, 25 Jul 2020 17:09:12 +1000