Deficit 19.4bn for 2012-13

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Budget forecast for 2012-13 deficit prints at 19.4bn in 2013-14 budget — only 600m from my most recent forecast!

Deficit projections are:

12/13 :: -19.4bn
13/14 :: -18.0bn
14/15 :: -10.9bn
15/16 :: +0.8bn
16/17 :: +6.6bn


  1. Typo
    “You can see the consequences of the ‘shuffling’ that was attempted to push the budget back into deficit”…I’m assuming you mean surplus.

    Have you seen your mate C.Joye’s piece on the budget? It was very good.

    So possible flow of events might look like: softer AUD, budget restraint, lower rates, possible loss of AAA rating in a few years time and higher inflation. No manufacturing sector left to capitalise. You were going to elaborate at some stage you said on what happens if AUD falls and inflation spikes?

    1. Right you are — and yes i am going to tackle that one. Got lost in the somp and budget fray i am afraid. Maybe this weekend.

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