FISCAL POLICY USED BY AUSTRALIA TO DEAL WITH ITS DEBT

The Commonwealth Budget is the main instrument of fiscal policy in Australia. It is the estimated revenue and expenditure for the next year and future years of the government. 
Right now Australia has some of the strongest economic fundamentals in the whole developed world. 
For this reason the Australian Government remains committed to the medium term fiscal strategy, which they hope will keep the budget on track and so re gain economic surplus. They believe they will be able to reach economic surplus by the year 2016-17.
Over the past decade Australia's resource sector has contributed immensely
 to Australia's economic growth, creating a big amount of income.