Compared to this year’s budget, MYEFO (the Mid Year Economic and Fiscal Outlook) is forecasting:

  • A larger deficit in 2015-16: $37.4 billion compared to 35.1 billion in the Budget.
  • Lower growth in 2015-16: 2.5 per cent compared to 2.75 per cent in the Budget.
  • Less Revenue in 2015-16: $410 billion compared to $405.4 billion in the Budget.
  • A later return to surplus: now forecast for 2020/21, a year later than forecast in the Budget.

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