State budget 2021-22 Macroeconomic Indicators

The Department forecasts a number of macroeconomic aggregates for inclusion in the budget papers.\r\n\r\nThese forecasts have three main purposes:\r\n\r\n- they provide a framework for presenting the economic context in which the budget is developed;\r\n- most of the economic aggregates or their sub-components are used in the modelling of taxation and other revenue lines; and\r\n- forecasts of nominal gross state product (GSP) are used to express key financial aggregates in relation to the size of the economy, such as non-financial public sector net debt to nominal GSP.\r\n\r\nThe spreadsheet below contains the seven published aggregates for the budget papers (Budget and Budget Update):\r\n\r\n- real GSP;\r\n- nominal GSP;\r\n- employment;\r\n- unemployment;\r\n- the consumer price index;\r\n- the wage price index; and\r\n- population.\r\n