Thursday, November 2, 2017

The fiscal picture has worsened - government debt is now projected to reach nearly 60% of GDP in FY2020/21 and the primary balance remains in deficit, increasing the risk of another ratings downgrade. Growth is the main problem - revenue projections have been revised down to reflect anemic economic activity, while expenditure remains broadly within the budget envelope. 

IIF Authors

David Hedley

Chief Economist