The federal budget is predicted to dip into the black this financial year, which if it eventuates, will be the first time a surplus is recorded in 15 years.
Treasurer Jim Chalmers will on Tuesday unveil updated forecasts, with a near $4 billion surplus predicted for 2022/23.
The treasurer's second budget will unveil smaller deficits than forecasted, with a $143 billion reduction over the forward estimates.
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