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Australia to take budget steps to absorb export shock: Treasurer

"The forecast decline in the terms of trade this year is the largest since records were first kept in 1959," Mr Hockey said


AUSTRALIA will take budget measures to cushion an economy facing its worst decline in terms of trade in more than half a century, Treasurer Joe Hockey said on Sunday, with the government poised to unveil large cuts to services and spending.

The budget cuts are expected to be