Australian Federal Budget: 2022/23 budget deficit seen at 1.5% of GDP, 2023/24 seen at 1.8% of GDP, 2024/25 seen at 2.0% of GDP
Growth: 2022/23 GDP seen at 3.25%; as expected. 2023/24 forecast at 1.5%, 2024/25 seen 2.5%.
Inflation: 2022/23 CPI seen at 5.75%; as expected. 2023/24 forecast at 3.5%, 2024/25 seen 2.5%.
Unemployment: 2022/23 seen at 3.75%, 2023/24 forecast at 4.5%, 2024/25 seen 4.5%.
- Commodity prices in the budget are assumed to return to long-term fundamentals by the end of Q1 2023.
Reaction details (09:38)
- Not much traction was seen in AUD following the announcement.
25 Oct 2022 - 09:31- Data- Source: Newswires
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