World Economy

No Surplus in Sight

No Surplus in SightNo Surplus in Sight

The WA Treasurer has refused to guarantee a surplus this financial year as plummeting iron ore prices threaten to punch a hole in the state budget, ABC online reported. Mike Nahan today handed down the annual report on state finances, which revealed a larger than expected surplus of $719 million for the last financial year. However, he said the volatile iron ore price had put a question mark over whether a consecutive surplus was a possibility. “Until we get closer to the end of the year, I can’t say that,” he said.