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Australia budget update due Monday - what to expect

The Australian Government's Mid-year Economic and Fiscal Outlook (MYEFO) is due on Monday 19 December 2016 (Australia time)

It's a market focus more than usual because of a potential downgrade in the AAA rating, ratings agencies are (in a nutshell) concerned about the ongoing and extending delays in returning to a budget surplus. More here:

And:

Bloomberg surveyed 13 economists on the MYEFO, here is what they expect:

  • Government to project a deficit of A$37b for year through June 2017 in the MYEFO (median forecast)
  • This compares to the May 2016 estimate from the governmen of A$37.1b
  • The economists surveyed also expect the government to lower its forecast for real GDP growth to 2% from the 2.5% it had forecast in May (that's the median of the 11 economists surveyed for this question)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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