Preliminary 2000-01 Forecasts and Medium-Term Projections

The table below sets out the major economic parameters used in preparing the revised Budget estimates over the forward estimates period. The parameters comprise the forecasts for 1999-2000 and 2000-01, and medium-term projections for the following two financial years. The projections for economic growth in the outyears are based on analysis of underlying trends, while the projections for inflation are consistent with the mid-point of the medium-term inflation target band.

Major Economic Parameters (percentage change from previous year)

(a) Labour Force Survey basis.
(b) Average earnings (national accounts basis).

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