Resources Minister Madeleine King says Beijing’s bid to boost the flagging Chinese economy should help arrest a sharp fall in iron ore prices, easing fears of a significant hit to the federal budget.
The comments came ahead of new figures being released on Monday that show lower government spending boosted the budget surplus to $15.8 billion last financial year.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
