State Budget 2024-25 - Macroeconomic Indicators

Brief description

The Department forecasts a number of macroeconomic aggregates for inclusion in the budget papers.



These forecasts have three main purposes:



* they provide a framework for presenting the economic context in which the budget is developed

* most of the economic aggregates or their sub-components are used in the modelling of taxation and other revenue lines and

* forecasts of nominal gross state product (GSP) are used to express key financial aggregates in relation to the size of the economy, such as non-financial public sector net debt to nominal GSP.



The spreadsheet contains the seven published aggregates for the budget papers (Budget and Budget Update):



* real GSP

* nominal GSP

* employment

* unemployment

* the consumer price index

* the wage price index

* population.