Original article by David Uren
The Australian – Page: 1 & 4 : 19-Aug-16

Chris Richardson of Deloitte Access Economics has warned that the Federal Budget may remain in deficit for some time. The Treasury has forecast that net debt will peak at $A356bn before falling to around $A335bn in 2021-22. However, Richardson’s analysis suggests that net debt could rise to $A440bn by 2021-22 if the nation records nominal GDP growth of 3.5 per cent and the Senate continues to reject the Government’s proposed spending cuts. May 2016 Budget forecasts are based on nominal GDP rising from 2.5 per cent in 2015-16 to five per cent by 2017.

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DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, STANDARD AND POOR’S CORPORATION, RESERVE BANK OF AUSTRALIA