Deloitte Access Economics said it would be the biggest contraction in the budget’s underlying cash balance on record. Follow today’s news liveGet our breaking news email, free app or daily news podcastAustralia is waving goodbye to budget surpluses and returning abruptly to deficit, facing a $49bn deterioration in the bottom line in forecasts from leading economists, Australian Associated Press reports.The $15.8bn surplus logged in the last financial year to Deloitte Access Economics’ prediction of a $33.5bn deficit in 2024/25 would amount to largest nominal contraction in the underlying cash balance on record, outside the pandemic. Continue reading…
Source link : https://www.theguardian.com/australia-news/live/2024/nov/26/australia-politics-live-budget-deficit-jim-chalmers-anthony-albanese-peter-dutton-question-time-social-media-ban
Author : Martin Farrer
Publish date : 2024-11-25 19:52:45
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Australia politics live: leading economists predict $33.5bn budget deficit for this financial year
