News

Mon Dec 16

Lower growth, tiny surplus in MYEFO budget update

Written by Michelle Grattan, Professorial Fellow, University of Canberra

The government has shaved its forecasts for both economic growth and the projected surplus for this financial year in its budget update released on Monday.

The Australian economy is now expected to grow by only 2.25% in 2019-20, compared with the 2.75% forecast in the April budget.

The projected surplus has been revised down from A$7.1 billion at...

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