Australia press: $100bn hit to deepen budget debt crisis
|The Australian press carried a story this Friday, noting that Australia’s budget could be hit by $ 100bn if the budget predictions go wrong and the Turnbull government fails to win full support for saving and spending measures.
Key Quotes:
“Australia's debt could blow out by more than $100 billion if the budget is wrong in its prediction that the economy will return to pre-crisis growth and the Turnbull government is unable to win Senate support for all of its outstanding savings measures”
"Consistently since 2011, Australia has budgeted that things wouldn't get worse in China and that there would be enough bipartisanship to pass things in the Senate"
"In practice, neither of those two things has come to pass and the risk is that it stays that way. China has disappointed and so has bipartisanship"
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.