Antipodean Macro

Antipodean Macro

Only Charts

ONLY CHARTS #475

Aus MYEFO

Dec 17, 2025
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1. The Australian Government’s mid-year fiscal update (MYEFO) revealed smaller expected budget deficits over the 4-year forecast horizon relative to the March Budget and pre-election fiscal outlook.

BUT the medium-term outlook for the underlying cash budget balance has worsened.

2. The budget deficit is mostly due to structural factors as opposed to cyclical reasons.

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