Smart phone containing market performance charts laying on graph paper
Markets

More for AUD traders - mid year budget government review due today

The Australian government will release its the Mid-Year Economic and Fiscal Outlook (MYEFO) today

  • Due at 0200GMT

It will contain downgrades, cuts ... but a few boosts as well (mainly to the deficit :-D )

  • To the outlook on commodity prices (iron ore expected to be cut from $48 to $38 or thereabouts)
  • To the forecast for gross domestic product (this will be cut by up to 0.5%)
  • 2.75% growth forecast for 2015-16 expected to be reduced to 2.5%
  • 3.25% forecast for 16/17 expected around 3%
  • Forecast of 3.5% for 17/18 & 18/19 expected to be downgraded to 3%

  • Will show a slower return to surplus
  • Budget deficit for this financial year expected around $38 billion (from $35 billion forecast in May)

-

More from Australia today:

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.

Other Topics

ForEx

Latest Markets Videos