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Articles on MYEFO

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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.
On one hand, we’re still able to forecast a surplus. On the other, conditions are deteriorating. Treasurer Frydenberg and Finance Minister Cormann deliver the news. Lukas Coch/AAP

5 things MYEFO tells us about the economy and the nation’s finances

MYEFO contains a long-overdue admission: that low wage growth is the new normal. It'll take extraordinary spending restraint to make the surplus forecasts stick.
If all goes well, Treasurer Josh Frydenberg might just deliver his tiny projected surpluses, but it isn’t clear why he should. Lukas Coch/AAP

Surplus before spending. Frydenberg’s risky MYEFO strategy

The treasurer has pulled out all stops to continue to forecast budget surpluses, but they are low, and don't take account of several likely costs.
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.
The government is proposing to save A$2.2 billion on education over the next four years, which will hit students the hardest. Shutterstock

Universities get an unsustainable policy for Christmas

The cuts to higher education funding are more about making savings than improving higher education, and would be extremely hard to change in the future.
MYEFO leaves Treasurer Scott Morrison with the difficult task of managing Australia through a period of both sluggish GDP growth and a persistent budget deficit. Mick Tsikas/AAP

There are two big political problems buried in the latest budget update

Next year GDP will grow at the second-slowest rate in 16 years, according to MYEFO. This has big implications for unemployment and the deficit.
How does Australia’s economic growth shape up against the G7 countries? AAP Image/Joe Castro

FactCheck: what are the facts on jobs and growth in Australia?

Ahead of the Mid Year Economic and Fiscal Outlook, minister for defence industries Christopher Pyne said a lot of jobs were created in 2016 and Australia has the highest growth rate in the G7. Is that true?

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