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1.Market Observations, 8.Was Sticky

14 Oct 2016 (AFR) – Scott Morrison buoyed by first terms of trade tailwind in five years

(14 October 2016, AFR, p4, by Jacob Greber)

‘Scott Morrison may be about to become the luckiest treasurer in at least half a decade if the latest surge in commodity prices is sustained, potentially wiping around a third from his budget deficits almost overnight. An indicative estimate by The Australian Financial Review based on research by Commonwealth Bank and Treasury suggests a surge in income from exports could cut as much as $23 billion off the $63.2 billion budget deficit for 2016-17 and 2017-18.’

Read more (and see the graph of commodity prices) at (might need AFR login access, or try: /trial)


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