Mid-Year Economic and Fiscal Outlook Making predictions in a time of uncertainty

People are back working and spending. How have increased vaccination rates impacted on economic growth? Source: Image by Mdavidford/Creative Commons

Yesterday the Federal Government released the Mid-Year Economic and Fiscal Outlook or MYEFO. MYEFO provides information about the condition of the Australia economy, the budget and their future half-way through the financial year. So how healthy is the Australian economy at the minute and what are the prospects for the future?

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Dr Peter McCawley AM, former Dean of the Asian Development Bank and Honorary Associate Professor in the Arndt-Corden Economics Division and the Indonesia Project at ANU, explains to Sri Dean what MYEFO tells and does not tell us about our economic future.

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The Australian economy faces a number of uncertainties and challenges. Dealing with COVID is one of them. Source: 17 Dec Con Chronis/AAP PHOTOS