{"id":3015,"date":"2014-12-15T07:43:30","date_gmt":"2014-12-15T12:43:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3015"},"modified":"2014-12-15T07:43:30","modified_gmt":"2014-12-15T12:43:30","slug":"myefo-budget-deficit-forecast-for-2014-15-increases-10-billion-to-40-4-billion-abc-news-australian-broadcasting-corporation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3015","title":{"rendered":"MYEFO: Budget deficit forecast for 2014-15 increases $10 billion to $40.4 billion &#8211; ABC News (Australian Broadcasting Corporation)"},"content":{"rendered":"<p><a href=\"http:\/\/www.abc.net.au\/news\/2014-12-15\/budget-deficit-for-2014-15-forecast-to-reach-404-billion\/5967956\">MYEFO: Budget deficit forecast for 2014-15 increases $10 billion to $40.4 billion &#8211; ABC News (Australian Broadcasting Corporation)<\/a>.<\/p>\n<p class=\"first\" style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; font-weight: bold; padding: 0px; margin: 0px 0px 1em 0px;\">The Federal Government says it is &#8220;on the right track&#8221; to put the budget back in the black in 2019-20.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">It means the budget would return to surplus in a third term of a Coalition government.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">The budget deficit for this financial year will be $40.4 billion, more than $10 billion larger than forecast in May, in a blowout that is set to continue for at least four years.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">The Mid-Year Economic and Fiscal Outlook (MYEFO) has been released after a slight delay caused by\u00a0<a style=\"word-wrap: break-word; color: #0058cc; text-decoration: none; padding: 0px; margin: 0px;\" title=\"\" href=\"http:\/\/www.abc.net.au\/news\/2014-12-15\/sydney-siege-hostages-cafe-martin-place-police-operation\/5967232\" target=\"_self\">the siege in central Sydney<\/a>.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">The May budget had forecast a deficit for 2014-15 of $29.8 billion.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">Next year&#8217;s deficit will be $31.2 billion, or 1.9 per cent of GDP, up from the May forecast of $17.2 billion.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\"><!-- [if gte mso 9]><xml>\n <w:WordDocument>\n  <w:Zoom>0<\/w:Zoom>\n  <w:DisplayHorizontalDrawingGridEvery>0<\/w:DisplayHorizontalDrawingGridEvery>\n  <w:DisplayVerticalDrawingGridEvery>0<\/w:DisplayVerticalDrawingGridEvery>\n  <w:UseMarginsForDrawingGridOrigin\/>\n <\/w:WordDocument>\n<\/xml><![endif]--> <!--StartFragment--><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 13.0pt; font-family: LucidaGrande; color: #282828;\">&#8230;click on the above link to read the rest of the article&#8230;<\/span><\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\"><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MYEFO: Budget deficit forecast for 2014-15 increases $10 billion to $40.4 billion &#8211; ABC News (Australian Broadcasting Corporation). The Federal Government says it is &#8220;on the right track&#8221; to put the budget back in the black in 2019-20. It means the budget would return to surplus in a third term of a Coalition government. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[41,1927,1928,195],"class_list":["post-3015","post","type-post","status-publish","format-standard","hentry","category-economics","tag-australia","tag-budget","tag-budget-deficit","tag-debt"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3015"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3015\/revisions"}],"predecessor-version":[{"id":3016,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3015\/revisions\/3016"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}