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The Times

If Treasury forecasts are right, it could be a decade before Australia is ‘back in black’

  • Written by John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

After two successive surpluses, the federal budget will be back in deficit in 2024–25, according to the much-anticipated budget update released on Wednesday.

Known as the Mid-Year Economic and Fiscal Outlook (MYEFO), the update shows the budget is forecast to stay in deficit in years to come.

The MYEFO is a little more downbeat than at budget...

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