Disclosure Statement: Durand Financial Services Pty Ltd and its advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. General Advice Warning: The information contained within this website does not consider your personal circumstances and is of a general nature only. You should not act on it without first obtaining professional financial advice specific to your circumstances.

Treasury has updated its economic and fiscal forecasts for the next four years in its mid-year budget update.

BUDGET DEFICITS (PREVIOUS IN BRACKETS):

* 2025/26 – $36.8 billion ($42.2b)

* 2026/27 – $34.3b ($35.4b)

* 2027/28 – $36.2b ($27.1b)

* 2028/29 – $36b ($37b)

* Total – $143.3b ($151.7b)

GROSS DEBT:

* 2025/26 – $993b ($1022b)

* 2026/27 – $1069b ($1092b)

* 2027/28 – $1142b ($1161b)

* 2028/29 – $1213b ($1223b)

GDP GROWTH:

* 2025/26 – 2.25 per cent (2.25 per cent)

* 2026/27 – 2.25 per cent (2.5 per cent)

* 2027/28 – 2.5 per cent (2.75 per cent)

* 2028/29 – 2.75 per cent (2.75 per cent)

INFLATION:

* 2025/26 – 3.75 per cent (3 per cent)

* 2026/27 – 2.75 per cent (2.5 per cent)

* 2027/28 – 2.5 per cent (2.5 per cent)

* 2028/29 – 2.5 per cent (2.5 per cent)

WAGE GROWTH:

* 2025/26 – 3.25 per cent (3.25 per cent)

* 2026/27 – 3.25 per cent (3.25 per cent

* 2027/28 – 3.5 per cent (3.5 per cent)

* 2028/29 – 3.75 per cent (3.75 per cent)

UNEMPLOYMENT:

* 2025/26 – 4.5 per cent (4.25 per cent)

* 2026/27 – 4.5 per cent (4.25 per cent)

* 2027/28 – 4.25 per cent (4.25 per cent)

* 2028/29 – 4.25 per cent (4.25 per cent)

 

Jacob Shteyman
(Australian Associated Press)