PEFO to be released at 10am on Tuesday

The departments of Treasury and Finance will release an independent assessment of the current state of budget and economy on Tuesday.

The Pre-election Economic and Fiscal Outlook (PEFO) will be released at 1000 (AEST) on Tuesday.

PEFO is an independent assessment of the current state of the budget and economic outlook made by the departments of Treasury and Finance.

It is part of the Charter of Budget Honesty, set up by former Liberal treasurer Peter Costello to allow opposition parties to see a true assessment of the books without a political bent from the government at the time.