Fitch: Australia likely to delay hitting budget surplus amid slowing economy

Fitch Ratings, a global macroeconomic consulting firm, issued a report on Wednesday, warning that a slowing Australian economy could delay hitting the budget surplus.

Key Points (via AFR):

“A slowdown in the world economy will soften anticipated federal revenues and may force the government to spend more to support Australia, stopping the Morrison government reaching its much-hyped return to a budget surplus next year.

Australia would struggle to meet its budget surplus goal next year because economic growth would slow to 2.5 percent, from 3 percent, due to slowing private investment and export growth.”