Australia to Profit from War Pushing Up Prices, Westpac Says

Australia will likely gain an unexpected multi-billion dollar windfall from the Iran war, as higher coal and gas export prices boost revenues over the five years to 2030, according to Westpac Banking Corp.

The national budget will get about A$20 billion ($14 billion) more revenue over that period, senior economist Pat Bustamante wrote in a report Tuesday. And the jump in gold prices since 2024 is estimated to add another A$19 billion to the government’s coffers over the next five years.