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Articles on MYEFO 2019

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The forecast for Australia’s economic growth in 2019-20 has been cut by 0.25%, and the projected surplus for this financial year slashed by A$2.1 billion. The Conversation

Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update

Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update. The Conversation, CC BY29.7 MB (download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
The update has slashed growth and surplus forecasts, as the economy is buffeted by global and domestic pressures. Lukas Coch/AAP

Lower growth, tiny surplus in MYEFO budget update

The projected surplus has been revised down from A$7.1 billion at budget time to $5 billion for this financial year.
Australia’s budget bottom line has been assisted by the price of iron ore, which spiked in 2019 as a result of the tailings dam spill disaster near the town of Brumadinho, Brazil, in January. Antonio Lacerda/EPA

Vital Signs: Australia’s wafer-thin surplus rests on a mine disaster in Brazil

Charter of Budget Honesty aside, we can expect assumptions that stretch credulity so the Australian government can maintain its surplus forecast.

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