The federal government delivered the smallest budget deficit in a decade in 2017/18.
The deficit was $10.1 billion in the year, or 0.6 per cent of gross domestic product, according to the final budget outcome released on Tuesday.
That's a $19.3 billion improvement on the deficit originally estimated for the period.
Stronger-than-expected economic growth and more Australians in work contributed to the impressive improvement, Treasurer Josh Frydenberg says.
The amount of money coming in was $13.4 billion higher than expected, while total spending was $6.9 billion less than forecast, with the Future Fund earnings up $1.1 billion in net terms.
"That's the result of a strong economy," Mr Frydenberg told reporters in Sydney in Tuesday.
"We are seeing more people in jobs than ever before, and that's more senior Australians, more women, more younger people.
"We are seeing across the economy good growth, and in 17/18 that's been reflected in these better numbers."
Real economic growth in 2017/18 was 2.9 per cent, slightly stronger than the forecast growth of about 2.75 forecast.
Mr Frydenberg said the results meant the government is on track with its plan to bring the budget back to balance in 2019/20.
Australian Associated Press
