Treasurer Josh Frydenberg has updated the governments budget and economic forecasts.
LATEST KEY FEDERAL BUDGET AND ECONOMIC FORECASTS:
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BUDGET FORECASTS
* 2019/20 surplus $5 billion vs $7.1 billion at the April budget.
* 2020/21 surplus $6.1 billion vs $11.0 billion.
ECONOMIC FORECASTS
GDP
* 2019/20 2.25 per cent vs 2.75 per cent.
* 2020/21 2.75 per cent vs 2.75 per cent.
UNEMPLOYMENT
* 2019/20 5.25 per cent vs 5.0 per cent.
* 2020/21 5.25 per cent vs 5.0 per cent.
WAGE GROWTH
* 2019/20 2.5 per cent vs 2.75 per cent.
* 2020/21 2.5 per cent vs 3.25 per cent.
Source: MYEFO
Australian Associated Press
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