Will Australia’s debt ever be repaid?
Michael is joined by Stephen Anthony, Chief Economist at Macroeconomics, to discuss the fiscal aspect of tonight’s budget and whether he thinks Australia’s debt will ever be repaid?
Macroeconomics reports that ‘General Government net debt is now expected to rise to around $670 billion (32 percent of GDP) in 2020 – 21 and continue rising to around $959 billion (42 percent of GDP) by 2024 – 25.’
‘Whilst the Australian Government had significantly less public debt in GDP terms than most developed countries, that situation is rapidly changing.’
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