Michael is joined by Stephen Anthony, Chief Economist at Macroeconomics, to discuss the fiscal aspect of tonight’s budget and whether he thinks Australia’s debt will ever be repaid?

 

Macroeconomics reports that ‘General Government net debt is now expected to rise to around $670 billion (32 percent of GDP) in 2020 – 21 and continue rising to around $959 billion (42 percent of GDP) by 2024 - 25.’ 

 

‘Whilst the Australian Government had significantly less public debt in GDP terms than most developed countries, that situation is rapidly changing.’

 

Michael is joined by Stephen Anthony, Chief Economist at&nbsp;Macroeconomics, to discuss the fiscal aspect of tonight&rsquo;s budget and whether he thinks&nbsp;Australia&rsquo;s debt will ever be repaid?
&nbsp;
Macroeconomics reports that &lsquo;General Government net debt is now expected to rise to around $670 billion (32 percent of GDP) in 2020 &ndash; 21 and continue rising to around $959 billion (42 percent of GDP) by 2024 - 25.&rsquo;&nbsp;
&nbsp;
&lsquo;Whilst the Australian Government had significantly less public debt in GDP terms than most developed countries, that situation is rapidly changing.&rsquo;
&nbsp;

Australia Overnight with Mike Jeffreys, 12am – 4am weekdays.

Wake Up Australia, 4am - 9:30am weekdays.

Australia Overnight with Mike Jeffreys, 12am – 4am weekdays.
Wake Up Australia, 4am - 9:30am weekdays.

Advertisement