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Australia forecasts smaller deficits, rising debt, and steady growth through 2028/29.
The Australian Treasury has updated its fiscal forecast, projecting a slightly improved outlook with total deficits of $143.3 billion over the next four years, down from $151.7 billion.
Deficits are expected to range from $34.3 billion to $36.8 billion annually, while government debt is projected to rise to $1.213 trillion by 2028/29.
Economic growth is forecast at 2.25% in 2025/26, increasing to 2.75% by 2028/29.
Inflation is expected to ease from 3.75% in 2025/26 to 2.5% by 2027/28 and remain stable.
Wage growth is projected at 3.25% to 3.75%, and unemployment is expected to stay between 4.25% and 4.5%.
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Australia pronostica déficits más pequeños, aumento de la deuda y crecimiento estable hasta 2028/29.