Online bookmaker sportsbet.com.au has opened betting for the budget announcement with a surplus yet again not on the horizon.
- Deficit announcement tipped to reveal a better financial scenario than last year.
- Between $27 – $27.99 billion is the most likely deficit revealed.
- No surplus expected until after 2020 according to the betting.
The treasurer is expected to announce that the deficit is in a better situation than the $36.5 billion announced last year at odds of $1.02, faring worse off pays $10.
A surplus being delivered before 2020 pays $4.00 and it’s more likely not to be the case at odds of $1.20.
The figure predicted for the deficit is tipped to be between $27bn and $27.99bn at odds of $3.50 while the GDP forecast is expected to be 2.01% to 3% at odds of $1.50.
“The good news judging from the odds is that we’re tipped to be in a better position than last year but the bad news is that achieving a surplus doesn’t look likely anytime soon,’’ said sportsbet.com.au’s Will Byrne.
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Deficit better or worse than $36.5bn?
$1.02 Better
$10 Worse
Size of Deficit
$7.00 Less than $25bn
$7.50 $25bn – $25.99
$4.50 $26bn – $26.99
$3.50 $27bn – $27.99
$5.00 $28bn – $28.99
$7.50 $29bn – $29.99
$7.00 $30bn or more
GDP Forecast
$15 Less than zero
$12 0 – 1%
$6.00 1.01% – 2%
$1.50 2.01% – 3%
$9.00 3.01% – 4%
$8.00 More than 4%
Surplus by 2020?
$1.20 No
$4.00 Yes