In a nutshell Fitch says slowing global economy will result in the ozznAustralian government shelling out more spending to support the local economy while tax revenue declines at the same time.
hence delaying the long-awaited surplus
But, if you’d like more, the local press (Australian Financial Review) have kindly popped up this:
- Fitch said Australia would struggle to meet its budget surplus goal next year because economic growth would slow to 2.5 per cent, from 3 per cent, due to slowing private investment and export growth.
Earlier today also we got a rather awful data point:
And be sure to tune in on February 5 for the first RBA meeting of the year after the janu January holiday (no meeting this month)