Consistent with the requirements of the Charter of Budget Honesty Act 1998, the Treasury and the Department of Finance has released the Pre-election Economic and Fiscal Outlook (PEFO) on Wednesday 20 April 2022.

The PEFO includes:

  • fiscal estimates and projections for the current financial year (2021‑22) and the following 4 financial years (2022‑23, 2023‑24, 2024‑25 and 2025‑26)
  • economic and other assumptions for the current financial year and the following 4 financial years used in preparing these updated fiscal estimates
  • discussion of the sensitivity of updated fiscal estimates to changes in those economic and other assumptions
  • debt aggregates and similar information presented in the debt statement
  • an updated set of financial statements and summary of the external reporting standards used in the preparation of the PEFO (Appendix A)
  • a list of policy decisions taken by the Government since the 2022‑23 Budget and decisions that were taken but not announced at that time (Appendix B)
  • an updated statement of the risks that may have a material effect on the fiscal outlook (Appendix C).

Download the PEFO paper

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