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Showing 81 - 90 of 911 results for "Deficit"

Go, iron ore, go

BENJAMIN ONG  |  WEDNESDAY, 28 APR 2021
... price of its major commodity export contribute to its growth renaissance, it'll also reduce Australia's budget deficit. In its Mid-Year Economic and Fiscal Outlook (MYEFO) handed down in December 2020, the Treasury forecast that iron ore prices ...

Government debt blows out 420%

KARREN VERGARA  |  TUESDAY, 20 APR 2021
... level excludes state, corporate and household debt. Treasurer Josh Frydenberg revealed in the October 2020 Budget a record deficit of more than $213.7 billion. While Australia's economy grew 257% since 1995 off the back of a population boom and its ...

Chief economist update: Australia's virtuous cycle keeps on turning

BENJAMIN ONG  |  MONDAY, 29 MAR 2021
... Australian Financial Review : "The pace of the improvement sets the government up for earlier budget repair, with the deficit likely to be just over $150 billion by June - well below the $197.7 billion projected in the mid-year update." The persistent ...

Chief economist update: More manna from UK Treasury

BENJAMIN ONG  |  FRIDAY, 5 MAR 2021
... Government over this year and next amounts to £407 billion." According to Sunak, this will raise the UK's budget deficit to £355 billion this year (17% of GDP) - the highest level since WWII - with another £234 billion (10.3% of GDP) forecast ...

Aussie super funds and Biden's US infra push

KARREN VERGARA  |  FRIDAY, 12 FEB 2021
... for the mandates, given their proven track record and level of experience in infrastructure. "There is an infrastructure deficit in the US that needs to be upgraded or created. It is about a $3-$4 trillion opportunity [and there is] plenty to work with," ...

Chief economist update: China on my mind

BENJAMIN ONG  |  THURSDAY, 14 JAN 2021
... contraction of 1.5% foreseen in the October Budget - leading to a lower unemployment rate and reduced underlying cash deficit (to 9.9% of GDP from 11.0% of GDP). It's only gonna get better. The coronavirus vaccine presently being distributed in parts ...

Chief economist update: Government spending made money, saved money

BENJAMIN ONG  |  FRIDAY, 18 DEC 2020
... save money", or in the MYEFO Budget revision... to spend less money. "The underlying cash balance is now expected to be a deficit of $197.7 billion (9.9% of GDP) in 2020-21 (down from 11.0% of GDP forecast in the October Budget)," MYEFO said. "The change ...

Chief economist update: David Australia versus Goliath China

BENJAMIN ONG  |  WEDNESDAY, 2 DEC 2020
... accounts for 1.9% of China's total exports. In addition, Australia will have to find more money to finance its fiscal deficit should China decide to stop iron ore imports. The Australian government's projected Budget balance is being boosted ...

Chief economist update: It's looking up for the land down under

BENJAMIN ONG  |  WEDNESDAY, 25 NOV 2020
... part-time jobs; and, the surging price of our biggest commodity export - iron ore - one that's bound to reduce the budget deficit the Treasury forecast in the Budget Papers 2020/2021 and/or provide the Morrison administration more firepower just ...

Chief economist update: Iron ore to reduce Aussie deficit

BENJAMIN ONG  |  TUESDAY, 24 NOV 2020
... tax receipts of around $4.8 billion in 2021-22." At current prices, it's looking a lot like Australia's budget deficit would be less than forecast. Still, anything could happen between now and the end of the June quarter 2021 but given China's ...