Mid-Year Economic and Fiscal Outlook
The Mid-Year Economic and Fiscal Outlook (MYEFO) updates the economic and fiscal outlook from the previous Budget.
Clause 14 of the Charter of Budget Honesty requires the release of a MYEFO each year by the end of January, or six months after the last Budget, whichever is later.
As well as updating the economic and fiscal outlook, the MYEFO takes account of all decisions made since the release of the Budget which affect payments and receipts and hence revises the budget aggregates. An appendix to MYEFO summarises all policy decisions taken since the Budget.
The Mid-Year Economic and Fiscal Outlook 2025–26 was released on Wednesday 17 December 2025.
| Publication/Part | DOCX download | PDF download |
|---|---|---|
| Mid-Year Economic and Fiscal Outlook 2025–26 | 6.38MB | |
| Preliminaries | 77KB | 293KB |
| Part 1: Overview | 525KB | 487KB |
| Part 2: Economic Outlook | 1.23MB | 388KB |
| Part 3: Fiscal Strategy and Outlook | 1.06MB | 816KB |
| Part 4: Debt Statement | 396KB | 370KB |
| Part 5: Sensitivity Analysis | 216KB | 273KB |
| Part 6: Statement of Risks | 273KB | 475KB |
| Part 7: Australian Government Budget Financial Statements | 315KB | 821KB |
| Appendix A: Policy decisions taken since the 2025 PEFO | 543KB | 1.29MB |
| Appendix B: Supplementary Expenses Table and the Contingency Reserve | 234KB | 230KB |
| Appendix C: Australia’s Federal Financial Relations | 272KB | 458KB |
| Appendix C: Annex A | XLSX 213KB | |
| Appendix D: Tax Expenditures | 127KB | 214KB |
| Appendix E: Historical Australian Government Data | 308KB | 684KB |
| Notes | 198KB | 132KB |
| Chart data (XLSX) | ZIP 90KB |