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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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ANZ expect “the 2021-22 MYEFO to show an improvement in the deficits due to better than expected tax collections in 2021-22 and an upwards revision to the economic outlook.” They estimate the “deficit in 2021-22 will be reduced by around A$10bn and A$50bn across the four years to 2024-25.” Despite an improvement in the fiscal position, they don’t expect the federal government will announce it is moving to fiscal repair, the second phase of its fiscal strategy. Besides the COVID-related support through the Delta lockdowns, they only anticipate a small amount of new spending, somewhere around A$3-5bn.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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