Australian Government, 2011‑12 Budget
Budget

MID-YEAR ECONOMIC AND FISCAL OUTLOOK
2011‑12

Statement By

THE HONOURABLE WAYNE SWAN MP

DEPUTY PRIME MINISTER AND TREASURER
OF THE COMMONWEALTH OF AUSTRALIA

AND

SENATOR THE HONOURABLE PENNY WONG

MINISTER FOR FINANCE AND DEREGULATION
OF THE COMMONWEALTH OF AUSTRALIA


© Commonwealth of Australia 2011

ISBN 978‑0‑642‑74762‑4

This publication is available for your use under a Creative Commons BY Attribution 3.0 Australia licence, with the exception of the Commonwealth Coat of Arms, third party content and where otherwise stated. The full licence terms are available from http://creativecommons.org/licenses/by/3.0/au/legalcode.

Creative Commons - Attribution

Use of Treasury material under a Creative Commons BY Attribution 3.0 Australia licence requires you to attribute the work (but not in any way that suggests that the Treasury endorses you or your use of the work).

Treasury material used 'as supplied'

Provided you have not modified or transformed Treasury material in any way including, for example, by changing the Treasury text; calculating percentage changes; graphing or charting data; or deriving new statistics from published Treasury statistics — then Treasury prefers the following attribution:

Source: The Treasury

Derivative material

If you have modified or transformed Treasury material, or derived new material from those of the Treasury in any way, then Treasury prefers the following attribution:

Based on Treasury data

Use of the Coat of Arms

The terms under which the Coat of Arms can be used are set out on the It's an Honour website (see www.itsanhonour.gov.au)

Other Uses

Inquiries regarding this licence and any other use of this document are welcome at:

Manager
Communications
The Treasury
Langton Crescent Parkes ACT 2600

Email: medialiasion@treasury.gov.au

Internet

A copy of this document is available on the central Budget website at: www.budget.gov.au.

Printed by CanPrint Communications Pty Ltd

NOTES

  1. 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.
  2. 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.
  3. For the budget balance, a negative sign indicates a deficit while no sign indicates a surplus.
  4. The following notations are used:
*
The nature of this measure is such that a reliable estimate cannot be provided.
NEC/nec
not elsewhere classified
-
nil
0
nil
..
not zero, but rounded to zero
~
allocation not yet determined
na
not applicable (unless otherwise specified)
nfp
not for publication
$m
$ million
$b
$ billion
  1. 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:
NSW
New South Wales
VIC
Victoria
QLD
Queensland
WA
Western Australia
SA
South Australia
TAS
Tasmania
ACT
Australian Capital Territory
NT
Northern Territory

If www.budget.gov.au responds slowly or you are having trouble downloading a document, try one of the Budget Website Mirrors

Note: Where possible, Budget documents are available in HTML and for downloading in Portable Document Format(PDF). If you require further information on any of the tables or charts on this website, please contact The Treasury.