Official data arriving on Monday will show that the government of Australia managed its finances better than expected over the last 12 months, the nation's treasurer announced. The updated figures for the previous financial year will confirm the actual budget deficit was "billions of dollars" smaller than the estimates published in the May budget.

The announcement provides an early indication of a stronger fiscal position for the country ahead of the formal release of the accounting data. The treasurer's statement specifies that the variance from the May projections represents a multi-billion dollar improvement in the bottom line.