Budget 2019: Economists largely positive but sceptical about some Treasury forecasts

Fri, 31 May 2019

By Rebecca Howard May 31 (BusinessDesk) - Economists were largely upbeat about the government's 2019 budget but say Treasury's forecasts may be too optimistic. The Treasury lowered its growth forecasts but still sees gross domestic product growth of 3 percent in the 12 months to June 2020 and 2.8 percent the following year. Ramped up government spending also saw it narrow the predicted surplus over the next few years, essentially narrowing the operating balance excluding gains and losses by $9.2 billion between now and June 2023. As...

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