News Headline Summary

Australian treasurer Swan says lower revenue means Australia surplus unlikely 2012-13

Says:

- Companies being hit by high AUD
- In just 4 months seen full revenue hit expected for year.
- Lower tax revenue means unlikely surplus.
- Australia is to continue to exercise spending restraint.
- Australia inflation remains contained.
- GDP growth much softer than expected.
- Mining tax revenues down substantially.

Reaction details:

- No immediate reaction observed in AUD/USD, trades 1,0470 (-10 pips) last.

Print 03:20, 20 Dec 2012 - Asian News - Source: Newswires