The Australian government's mid year fiscal and economic outlook out now
Australian Treasury predicts budget surplus of A$4.1 billion in fiscal 2020
- was forecast at A$2.2 billion surplus in May
For 2018/19 deficit seen at AUD 5.2bn (from 14.5bn AUD seen in May)
Net debt forecast at 18.2% of GDP in 2018-19
- May budget estimate 18.4%
GDP (economic growth) forecast 2.75% in 2018-19
- was at 3% predicted in May
Unemployment forecast 5%
- 5.25% forecast in May
Wage growth forecast 2.5%
- 2.75% in May
Better position is helped by stronger than expected tax collections, company profits and hiring
more to come