Finance Minister MathiasCormann is “quietly optimist” about the economy despite a mid-year budget update which saw major economic markers downgraded.
Finance Minister Mathias Cormann is “quietly optimist” about the economy despite a mid-year budget update which saw major economic markers downgraded. Speaking with Sky News, the government’s Senate leader defended the Coalition’s positive outlook on the MYEFO figures, outlining Australia’s performance comparative to OCED nations.
Treasurer Josh Frydenberg revised down the next four years of projected budget surpluses as a slowing economy wiped $22 billion from the government’s May forecast. Mr Cormann pointed to the government’s effort to pay down Labor’s debt as an example of the Coalition’s economic credentials. “You can only decrease debt when you get the budget back into surplus,” he said. “Debt is much lower than it would have been if we had not made $200 billion worth of savings since the 2013 election.
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