Exports to slump by $117b by decade-end

Source: afr.com afr.com

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“This is a timely reminder that revenue upgrades in the May budget will be substantially smaller than those in our first two budgets. “While the resources and energy sectors continue to make a big contribution to our economy and our national prosperity, we shouldn’t expect to see upgrades to government receipts of the same extent as in our recent budgets.” In the near term, commodity exports will amount to $417 billion in 2023–24, just a 10 per cent dip below the record $466 billion in 2022–23. But by the end of the decade, iron ore, coal and gas price falls...