Without these assumptions, the budget would be in
deficit over the forecast period.
Not exact matches
As a result, we expect a higher
deficit profile
over the 2012 - 13 to 2015 - 16
period than in your October
forecast.
Based on the reconciliation provided in the Public Accounts, we estimate that,
over the
period 2002 - 03 to 2011 - 12, the federal
deficit / surplus turned out to be $ 24.2 billion better than originally
forecast.
With the ending of the stimulus spending, the
deficit is
forecast to decline steadily
over the medium term, with a surplus expected towards the end of the
period (2015 - 16 or 2016 - 17).
A constant adjustment for risk
over the planning
period does put in question the achievability and credibility of the
deficit forecast.
With the deterioration in the economic outlook since the April 2016 with
deficits now projected
over the
forecast period, the
deficit will be well above the $ 10 billion of promised policy initiatives in 2016 - 17.