Original article by John Kehoe
The Australian Financial Review – Page: 2 : 8-Nov-18
The federal government’s May 2018 Budget papers had forecast average real GDP growth of 2.75 per cent in 2018-19, rising to three per cent in 2019-20. The Budget could potentially return to surplus earlier than projected if the government upwardly revises its GDP forecasts in line with the latest forecasts issued by the Reserve Bank. The government will update its forecasts in December. Peter Downes of Outlook Economics says a surplus is possible in 2018-19, depending on the outlook for commodity prices, the Australian dollar and profits in the mining sector.
AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, OUTLOOK ECONOMICS, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIA. DEPT OF FINANCE