Budget surplus up to $22bn thanks to strong jobs market and higher commodities prices

Despite improved short-term outlook, Jim Chalmers says structural pressures are intensifying rather than easing'

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Australia's first surplus in 15 years has been revised up to $22.1bn, in a major boon for the Albanese government's first full-year budget.

The final budget outcome for 2022-23, to be released by the federal treasurer, Jim Chalmers, on Friday, shows a surplus of 0.9% of GDP.