SYDNEY, July 24 (Reuters) - Australia Treasurer Jim Chalmers said on Monday the country's first budget surplus in 15 years would be even larger than first forecast. Chalmers said the budget surplus for the financial year just past was likely to be a little over A$20 billion dollars, well up from the A$4.2 billion projected in the May budget as first flagged last month. The surplus will be short-lived, with deficits forecast this financial year and next due to rising interest bills and spending on disability care, health and defence. Chalmers reiterated forecasts for economic growth to slow this year. Barrett was an ambassador to the OECD, and, like Chalmers, served as chief of staff to former Treasurer Wayne Swan.

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Persons: Jim Chalmers, Chalmers, Chris Barrett, Barrett, Wayne Swan, Lewis Jackson, Alasdair Pal, Sonali Paul Organizations: SYDNEY, Commission, OECD, Thomson Locations: Canberra, Australia, China, Sydney