The Australian economy is expected to grow by 2½ per cent in 2013‑14 and 3 per cent in 2014‑15. There is, however, uncertainty surrounding the global outlook, and the economy's transition to new sources of growth may not occur as smoothly as forecast.
The underlying cash balance is estimated to be in deficit in 2013‑14 and 2014‑15 and projected to remain in deficit in 2015‑16 and to return to surplus in 2016‑17.
Table 1 provides estimates and projections of the underlying cash and fiscal balances for the period from 2013‑14 to 2016‑17.
|Underlying cash balance ($b)(a)||-30.1||-24.0||-4.7||4.2|
|Per cent of GDP||-1.9||-1.5||-0.3||0.2|
|Fiscal balance ($b)||-25.5||-22.1||1.8||7.8|
|Per cent of GDP||-1.6||-1.3||0.1||0.4|
(a) Excludes net Future Fund earnings.