Australian Mid-Year Economic and Fiscal Outlook (MYEFO) out now

Author: Eamonn Sheridan | Category: News

We got the RBA December Minutes a little earlier today:

and now it's the MYEFO!

  • Sees 2015/16 budget deficit at AUD37.4 bln vs A$35.1 bln seen in May
  • Sees net debt peaking at 18.5% of GDP in 2017/18
  • Sees CPI inflation at 2% in 2015/16, then 2.25 pct in 2016/17
  • Australia sees GDP growth at 2.5% in 2015/16, 2.75% in 2016/17, 3.0% through to 2018/19
  • Sees unemployment at 6% in 2015/16, 5.75 pct by 2017/18
  • Sees 2016/17 budget deficit at A$33.7 bln, 2017/18 deficit at A$23 bln, 2018/19 deficit at A$14.2 bln

Falling revenues from falling commodity prices (iron ore chiefly cited) cited as a reason for the deterioration in the budget position since May

AUD ... barely changed

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for more the Australian Financial Review has a 'main points' summary here

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