(Australian Associated Press)
KEY ECONOMIC FORECASTS IN 2020/21 BUDGET
(Previous forecasts in brackets)
GDP
2020/21 – minus 1.5 per cent (* minus 2.5 per cent)
2021/22 – 4.75 per cent (# 3.0 per cent)
2022/23 – 2.75 per cent (# 3.0 per cent)
2023/24 – 3.0 per cent (n/a)
UNEMPLOYMENT RATE
2020/21 – 7.25 per cent (* 8.75 per cent)
2021/22 – 6.5 per cent (# 5.0 per cent)
2022/23 – 6.0 per cent (# 5.0 per cent)
2023/24 – 5.5 per cent (n/a)
CONSUMER PRICE INDEX
2020/21 – 1.75 per cent (* 1.25 per cent)
2021/22 – 1.5 per cent (# 2.5 per cent)
2022/23 – 1.75 per cent (# 2.5 per cent)
2023/24 – 2.0 per cent (n/a)
WAGE PRICE INDEX
2020/21 – 1.25 per cent (* 1.25 per cent)
2021/22 – 1.5 per cent (# 2.75 per cent)
2022/23 – 2.0 per cent (# 3.0 per cent)
2023/24 – 2.25 per cent (n/a)
* July Economic and Fiscal Update
# Mid-Year Economic and Fiscal Outlook (December 2019)
Source: Treasury