MYEFO provides positive signs for improvement in federal finances

David Heathcote and Grant Wardell-Johnson introduce KPMG’s analysis of the 2020-21 MYEFO, detailing the major implications for business.

The Federal Government’s mid-year economic and fiscal outlook (MYEFO) documents show some improvement in the federal finances in just the two months since the 2020-21 Budget. This includes the prospect that the Australian economy will indeed grow, by 0.75 percent, in 2020-21. In addition, Treasury forecasts that the underlying cash balance for 2020-21 will be a deficit of $197.7 billion, an improvement of $15.9 billion since this year’s Budget. See KPMG’s analysis: The 2020-21 mid-year eco...

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Authors: David Heathcote, Grant Wardell-Johnson

Published Date: 18 December 2020