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17 Dec 2013
Australian Treasurer crossing the wires on MYEFO
FXstreet.com (Bali) - Australian Treasurer Joe Hockey is crossing the wires with some additional comments related to the Mid-Year Economic and Fiscal Outlook report.
Australian Treasurer Joe Hockey main headlines
"Transition to non-resource sector slower than expected"
"Spending reform will require difficult choices."
"Deterioration in budget not just a short term problem."
"Recent fall in A$ and low rates should ease pressure."
"Softening economic outlook has resulted in significantly lower nominal GDP."
"Driven the reduction in tax receipts by more than A$37 billion over the forward estimates"
“The softer economic outlook, coupled with changes in demand-driven programmes, has also increased payments across the forward estimates.”
“The fall in resources investment is expected to be sharper than previously forecast, the recovery in the non-resources sector is expected to be more gradual.”
"Real GDP is forecast to grow at 2.5% in 2014-15, compared to 3% in the 2013 PEFO."
Australian Treasurer Joe Hockey main headlines
"Transition to non-resource sector slower than expected"
"Spending reform will require difficult choices."
"Deterioration in budget not just a short term problem."
"Recent fall in A$ and low rates should ease pressure."
"Softening economic outlook has resulted in significantly lower nominal GDP."
"Driven the reduction in tax receipts by more than A$37 billion over the forward estimates"
“The softer economic outlook, coupled with changes in demand-driven programmes, has also increased payments across the forward estimates.”
“The fall in resources investment is expected to be sharper than previously forecast, the recovery in the non-resources sector is expected to be more gradual.”
"Real GDP is forecast to grow at 2.5% in 2014-15, compared to 3% in the 2013 PEFO."