Australia govt upgrades economic, fiscal outlooks

Published: 01 Nov 2009 17:25:26 PST

CANBERRA, Nov 2 - Australia upgraded its economic and fiscal outlooks on Monday, after the domestic economy proved to be much more resilient to the global financial crisis than had been forecast in the government's May budget.

Revised fcasts May budget fcasts

09/10 10/11 11/12 09/10 10/11 11/12*

------------------ ------------------- Economic growth % 1.5 2.75 4.0 -0.5 2.25 4.5 Inflation (CPI) % 2.25 2.25 2.25 1.75 1.5 2.0 Jobless rate % 6.75 6.5 6.0 8.25 8.5 7.5 Budget fiscal balance A$bln -54.4 -46.5 -28.2 -53.1 -56.0 -41.8 Underlying balance A$bln -57.7 -46.6 -31.2 -57.6 -57.1 -44.5 Outstanding gvt debt A$bln 162.5 214.3 245.8 169.9 222.5 273.3