Original article by Matthew Cranston
The Australian Financial Review – Page: 8 : 12-Dec-19
The Commonwealth Bank has upgraded its federal Budget surplus forecasts. Chief economist Michael Blythe says the surplus for fiscal 2020 is now likely to be $17.1bn rather than $7.1bn, while the surplus for the following year is set to be $19.1bn rather than $11bn. Blythe adds that factors such as strong jobs growth and the low inflation rate will boost the Budget bottom line by about $30bn over the next four years. He notes that government revenue will also be bolstered by a much higher iron ore rice than was forecast in the April 2019 Budget.
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