Australia's population will explode to 35 million within the next generation, according to a new report.
A combination of factors including higher fertility rates and increased overseas migration are expected the boost our populace some 65 percent by 2049.
The forecast far exceeds the last estimate, which put the Australian population at 28.5 million by 2047.
A July 2008 estimate put the national population at just over 21 million.
Treasurer Wayne Swan is set to unveil key findings of the third Intergenerational Report in Sydney today.
Mr Swan will announce that the overall fertility rate has climbed to more than 1.9 births per woman, a rate not seen since the 1980s, the Courier Mail reports.
"The population ageing story in Australia is changing," Mr Swan will say.
"Our projections suggest that Australia's population could be larger and younger than presented in previous [intergenerational reports].”
He will reveal Australians over the age of 65 are expected to comprise 25 percent of the population by 2049, a smaller proportion than previous estimates.
The full Intergenerational Report will be released sometime before next year's federal budget.
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