Aust PM Howard says C/A deficit, foreign debt more manageable

AAP General News (Australia)
08-23-2000
Aust PM Howard says C/A deficit, foreign debt more manageable

CANBERRA, Aug 23 AAP - Prime Minister John Howard said today Australia's current account
deficit and foreign debt were more manageable.

"The level of the debt, the size of the current account deficit, is a lot more manageable
now because the proportion it bears to our annual wealth generation is much lower than
it used to be," Mr Howard told Perth radio 6PR.

He said government debt was about $80 billion to $90 billion when the coalition won
power in 1996, but about $50 billion had now been paid back.

"If we keep running budget surpluses we will have eliminated government debt altogether,"

he said.

This year's Budget forecast the current account deficit to improve to $31.5 billion
in 2000/2001 after a projected $33.5 billion in 1999-2000.

AAP jg/mg/bwl

KEYWORD: ECONOMY HOWARD

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