MID-YEAR ECONOMIC AND FISCAL OUTLOOK
THE HONOURABLE WAYNE SWAN MP
DEPUTY PRIME MINISTER AND TREASURER
OF THE COMMONWEALTH OF AUSTRALIA
SENATOR THE HONOURABLE PENNY WONG
MINISTER FOR FINANCE AND DEREGULATION
OF THE COMMONWEALTH OF AUSTRALIA
© Commonwealth of Australia 2011
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- The following definitions are used in the MYEFO:
- 'real' means adjusted for the effect of inflation;
- real growth in expenses and payments is calculated by the Consumer Price Index (CPI) as the deflator;
- one billion is equal to one thousand million; and
- the Budget year refers to 2011‑12, while the forward years refer to 2012‑13, 2013‑14 and 2014‑15.
- Figures in tables and generally in the text have been rounded. Discrepancies in tables between totals and sums of components are due to rounding:
- estimates under $100,000 are rounded to the nearest thousand;
- estimates $100,000 and over are generally rounded to the nearest tenth of a million;
- estimates midway between rounding points are rounded up; and
- the percentage changes in statistical tables are calculated using unrounded data.
- For the budget balance, a negative sign indicates a deficit while no sign indicates a surplus.
- The following notations are used:
- The nature of this measure is such that a reliable estimate cannot be provided.
- not elsewhere classified
- not zero, but rounded to zero
- allocation not yet determined
- not applicable (unless otherwise specified)
- not for publication
- $ million
- $ billion
- The Australian Capital Territory and the Northern Territory are referred to as 'the Territories'. References to the 'States' or 'each State' include the Territories. The following abbreviations are used for the names of the States, where appropriate:
- New South Wales
- Western Australia
- South Australia
- Australian Capital Territory
- Northern Territory
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