Budget deficit position $6b better than forecast
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The news: The federal budget position is $6 billion better than expected, with the underlying cash balance deficit totalling $32.9 billion from 1 July to 31 October 2025.
The numbers: The Department of Finance's freshly released October 2025 Financial Statements showed the fiscal balance for the same time period was a deficit of $30.4 billion and the headline cash balance was a $35.7 billion deficit.
That compares to a budget estimate for the same period for the headline cash balance to be a deficit of $44.6 billion, a fiscal balance deficit of $36.2 billion and an underlying cash balance deficit of $39.5 billion.
The new figures show total receipts were $8 billion higher than forecast, while total payments were $1.4 billion higher than estimated.
The net operating balance for the financial year to 31 October was a $27.6 billion deficit.
The context: The monthly statements reported the budget position for the 2025-26 financial year through to 31 October 2025 and compared them against the expected monthly profile based on estimates in the 2025-26 budget delivered in March.
