The 2013-14 budget by the numbers …

Deficit:  

  • This year: $19.4 billion
  • 2013-14: $18 billion (1.1% of GDP)
  • 2014-15: 10.9 billion (0.6% of GDP)
  • 2015-16: $800 million surplus
  • 2016-17: $6.6 billion surplus

GDP growth:

  • 2013-14: 2.75%
  • 2014-15: 3%

Unemployment:

  • 5.75% (2013-14 and 2014-15)

Inflation:

  • 2.25% (2013-14 and 2014-15)

Tax to GDP ratio:

  • This year: 21.5% (down from forecast 22.1% last budget)
  • 2013-14: 22.2% (down from forecast 22.7% last budget)

Spending to GDP ratio:

  • This year: 24.2% (up from 23.5% forecast last budget)
  • 2013-14: 24.5% (up from 23.7% forecast last budget)

Terms of trade:

  • Negative at 0.75%

Export growth:

  • 6.5%, imports 6% (2013-14)

Net debt:

  • Peaking at $191.6 billion in 2014-15 (11.4% of GDP)

Peter Fray

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Peter Fray
Editor-in-chief of Crikey

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