Fitch: Australia likely to delay hitting budget surplus amid slowing economy

Dhwani Mehta FXStreet

Fitch Ratings, a global macroeconomic consulting firm, issued a report on Wednesday, warning that a slowing Australian economy could delay hitting the budget surplus.

Key Points (via AFR):

“A slowdown in the world economy will soften anticipated federal revenues and may force the government to spend more to support Australia, stopping the Morrison government reaching its much-hyped return to a budget surplus next year.

Australia would struggle to meet its budget surplus goal next year because economic growth would slow to 2.5 percent, from 3 percent, due to slowing private investment and export growth.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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