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

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?

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

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