Australian government’s Mid-Year Economic and Fiscal Outlook (MYEFO) – out now. Some of the major headlines on projections via Bloomberg : •Sees ’14-15 deficit at A$40.4b vs $29.8b gap in the May estimates •Assumes $60 per ton iron ore price over 2 years •Sees 2.5% inflation in 2q vs 2.25% in the May estimates •Sees 3% GDP growth in 2015-16 vs 3% in the May estimates •Sees 2.5% GDP growth in 2014-15 vs 2.5% in the May estimates •Sees 6.5% jobless rate by 2q vs 6.25% in the May estimates •Sees ’16-17 deficit A$20.8b vs may est. A$10.6b in the May estimates •Sees ’15-16 deficit A$31.2b vs may est. A$17.1b in the May ... (full story)
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