Our economy's on shaky ground - but there's optimism we're winning the fight against the Covid crunch
Our economy's on shaky ground - but there's optimism we're winning the fight against the Covid crunch
16 December 2020
Treasury's just released its half-year economic and fiscal update - and forecasts unemployment will peak at 6.9 percent by the end of next year? lower than the 7.8 predicted before October's election.
GDP's expected to steadily bounce back- hitting a high of 3.8 percent on average in 2024.
Tax revenue's set to rise - and expenses drop - leading to this financial year's deficit coming in about 10 billion lower than expected.
Net core Crown debt's forecast to jump to more than 50 percent of GDP by 2024 - sitting at about 194 billion dollars.
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