The 2021 Australian Intergenerational Report (IGR) projects an outlook for the economy and the Australian Government’s budget over the next 40 years. It examines the long-term sustainability of current policies and how demographic, technological and other structural trends may affect the economy and the budget.
The report, the fifth of its kind, delivers three key insights:
- The Australian population is growing slower and ageing faster than expected.
- The Australian economy will continue to grow, but slower than previously thought. Growth will continue to be highly dependent on productivity gains.
- While Australia’s debt is sustainable and low by international standards, the ageing of the population will put significant pressures on both revenue and expenditure.
The report is available on the Australian Treasury website.
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