Australia’s debt pile will stop growing within six years

epa05282167 Australian Treasurer Scott Morrison speaks at a press conference at Parliament House in Canberra, Australia, 29 April 2016. According to reports the federal Treasurer halted a 371 million Australian dollar (about 284 million US dollar) sale proposal of Australias largest private land and cattle holding to Chinese conglomerate Shanghai Pengxin Group as considered contrary to the national interest. EPA/MICK TSIKAS AUSTRALIA AND NEW ZEALAND OUT

SYDNEY: Australia’s debt pile will stop growing within the next five or six years and then begin to shrink as the government works to balance the budget, according to Treasurer Scott Morrison (pic).

The federal government, which is due to outline its annual spending blueprint tomorrow, expected the fiscal deficit to narrow over its four-year forecast horizon, Morrison said in a Channel Nine television interview.