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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)