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Australia to Slash Foreign Aid

Australia is cutting its foreign aid but will boost its counter-terrorism spending in measures outlined in its annual budget. Federal Treasurer Joe Hockey said Tuesday his financial blueprint would make the country “stronger, safer and more prosperous.” Australia’s budget deficit has soared to $28 billion as tax revenues and mining royalties fall. The Australian government is cutting its foreign aid budget by 40 percent as it tries to balance its accounts at home. Indonesia, which has...

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