Mid-Year Economic and Fiscal Outlook

Purpose

The Mid-Year Economic and Fiscal Outlook (MYEFO) updates the economic and fiscal outlook from the previous Budget.

It provides updated information on the government’s fiscal position and compares estimated expenditure to actual expenditure.

MYEFO estimates include any government decisions made since the previous Budget that affect expenses, revenues and capital estimates.

It also updates the budgetary position, including Budget aggregates, by incorporating any changes to economic parameters.

Appendix A summarises all policy decisions taken since the Budget.

Timing

Clause 14 of the Charter of Budget Honesty Act 1998 requires the release of a MYEFO each year by the end of January, or 6 months after the last Budget, whichever is later.

Typically, MYEFO is released in December.