Deficit high but less than predicted

Original article by Adam Creighton,Geoff Chambers
The Australian – Page: 4 : 28-Sep-20

Deloitte Access Economics expects the federal government to announce a 2020-21 Budget deficit of $198.5bn on 6 October. This is just $14bn higher than the government had forecast in June. Chris Richardson of Deloitte says personal and corporate income tax receipts will exceed the government’s low expectations, while commodity prices have been more resilient than anticipated. He notes that the iron ore price in particular is still well above the Treasury’s projections. However, Deloitte expects federal debt to be about $401bn higher than the government’s pre-pandemic forecasts in 2023.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD,AUSTRALIA. DEPT OF THE TREASURY

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s