CANBERRA, AAP – TREASURY’S LATEST ECONOMIC FORECASTS (PREVIOUS IN BRACKETS)

Growth

2021/22 – 3.75 per cent (4.25 per cent)

2022/23 – 3.5 per cent (2.5 per cent)

Unemployment

2021/22 – 4.5 per cent (5.0 per cent)

2022/23 – 4.25 per cent (4.75 per cent)

Inflation

2021/22 – 2.75 per cent (1.75 per cent)

2022/23 – 2.5 per cent (2.25 per cent)

Wage growth

2021/22 – 2.25 per cent (1.5 per cent)

2022/23 – 2.75 per cent (2.25 per cent)

(Source – Mid-Year Economic and Fiscal Outlook 2021/22)