Budget deficit $10.6 bln after two months October 11, 2013 - 12:08PM The federal budget deficit stood at $10.56 billion after two months of the 2013/14 financial year, Department of Finance data shows. The financial statement for July and August released on Friday showed the deficit was running $1.25 billion larger than had been predicted in the May budget. Lower cash receipts being only partial offset by lower cash payments was to blame. However, a pre-election budget update released by Treasury and Finance in August forecast a $30.1 billion deficit for 2013/14, rather than the $18 billion predicted in the May budget. The minerals resource rent tax and the petroleum resource rent tax raised a combined $601 million over July and August. In the update, the MRRT was forecast to raise $850 million over the full financial year and the PRRT $2.4 billion.