Australia govt posts $14.2-B budget surplus

CANBERRA, Australia: Australia's government reported on Friday that it had a budget surplus of AU$22.1 billion ($14.2 billion) in the last fiscal year, the first time the nation's books have been balanced in 15 years.

The government cited low unemployment and high prices for the country's commodities, including iron ore, coal and gas. The surplus was equivalent to 0.9 percent of Australia's gross domestic product (GDP).