Australian Economy - Reviving

The economy is ‘roaring back to life’ - key indicators below: 

The budget bottom line is $133 billion, which $30 billion better than forecasts in December, due largely to surging income taxes off the back of jobs growth, as well as increased superannuation and company taxes. The former reflects a rebounding share market, the latter a business recovery led by retail. 

More details here - https://lnkd.in/gSCQqfG

 

Iron Ore demand by China is cushioning the debt.

 

Recovery in Employment

 

Australian Budget to return to Surplus

From AFR: More economists have backed the federal budget to return to surplus within four years and investment bank UBS suggests it could be done without substantial near-term fiscal repair. The UBS economists suggest that: It’s plausible the budget will project a return to balance in 2024-25 (as occurred in 2018-19 before COVID hit), with a cumulative improvement of about $200 billion across the [forward estimates],’’ the UBS economists wrote in a note to clients. The UBS economists also expect the improvement could push the Reserve Bank of Australia into tapering its massive $200 billion bond-buying program. More can be read here