Australian budget projects more growth along with higher taxes and inflation

Article Abstract:

Australia's budget for FY 1996 which ends on Jun. 30, 1996, forecasts growth for the economy and a budget surplus, but also predicts higher inflation, a trade deficit and increased taxes. The Australian economy is forecast to improve at an average annual rate of 3.75% while a budget surplus of 718 million Australian dollars ($532.9 million) is expected during the fiscal year. Economists generally approve of the budget, but are concerned about the current account deficit's impact on Australian markets in case of a global economic slowdown.

Economic aspects, Forecasts and trends, Economic development

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Australia's budget suggests growth will be modest

Article Abstract:

Australia's 1996 budget positively reflects another year of modest economic growth with relatively low inflation and a more stringent fiscal policy. The country's annual budget is the first in 13 years to be drafted by a Liberal- National coalition government. In spite of unavoidable financial cuts and political costs, Australia's balanced economy is seen as progressive for 20 consecutive quarters.

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Sydney unveils a budget that economists call prudent

Article Abstract:

The Australian government has unveiled a 1998 fiscal package that received mixed responses from economists. Some economists hail the package as prudent as it puts inflation increases at 2.5% from 1.5% but some worry that the outlook remains too optimistic regarding the Asian downturn's effect on Australian exports. The financial market's reaction to the unveiled package remained mute.

Fiscal Policy, Evaluation, Public finance

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