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