Australian Government general government expenses are expected to grow in real terms in 2005-06 and over the forward estimates period to 2008-09 (Table 1). Expenses as a proportion of gross domestic product (GDP) are forecast to fall slightly over the next four years, from 22.6 per cent of GDP in 2004-05 to 22.3 per cent of GDP in 2008-09.
Table 1: Estimates of expenses
- As published in the Mid-Year Economic and Fiscal Outlook 2004-05.
- Real growth is calculated using the non-farm gross domestic product (GDP) deflator.