Consistent with the requirements of the Charter of Budget Honesty Act 1998, the Pre-Election Economic and Fiscal Outlook (PEFO) for the 2025 Australian election has been released on Monday, the 7th of April. The report is jointly prepared by the Treasury and the Department of Finance.

The 2025 PEFO includes:

  • the Government’s spending and income for the current financial year (2024–25) and the next four years (2025–26 to 2028–29)
  • the economic and other assumptions, including economic growth, employment and inflation, used in preparing this financial information
  • a discussion of how the Government’s financial situation could change in response to changes in those assumptions
  • Government debt aggregates
  • financial statements and reporting standards (Appendix A)
  • Government decisions made since the 2025–26 Budget (Appendix B)
  • the risks that could impact future financial outcomes (Appendix C).

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