In dollar terms, Australia’s aid budget reached it’s peak under Labor in 2012-2013 at about $5 billion per year. After the Coalition Government’s successive cuts the aid budget is frozen at about $4 billion so that it is actually decreasing in real terms into the future, after taking inflation into account.
As a proportion of Gross National Income (GNI), our aid budget is projected to decrease to its lowest ever recorded level at 0.22 per cent. This is 22 cents out of every 100 dollars of national income being used for aid. The internationally agreed targets for aid spending by wealthy countries is 0.7 per cent of GNI, reaffirmed in the Sustainable Development Goals (SDGs).