The budget update shows a slight improvement in the federal deficit, but it’s mostly due to good luck
- Written by Stephen Bartos, Professor of Economics, University of Canberra
The federal government’s mid-year budget update shows a modest improvement in the deficit forecast in 2025–26, but much of this comes from a larger-than-forecast tax take.
The update, known as the Mid-Year Economic and Fiscal Outlook (MYEFO), estimates a deficit for 2025–26 at A$37 billion, or 1.3% of gross domestic product (GDP)....
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