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29 May 2015 description

Budget Snapshot

Key Headlines:

  • The single biggest cut to Australia’s aid budget since the beginning of the aid program: Almost $1 billion was cut from 2015-16, representing a 20% cut for the year. The budget also confirms $2.7 billion of additional cuts in 2016-17 and 2017-18. By 2016-17, total Australian Overseas Development Assistance (ODA) as a share of Gross National Income (GNI) will fall to 0.22%. This is the lowest ever level since records began.