MYEFO forecast not for the real world

By Ross Gittins
Updated December 21 2014 - 4:08pm, first published December 20 2014 - 2:42am

Did you catch the apparent contradiction in this week's mid-year budget update? It left unchanged the forecast that the economy would grow by 2.5 per cent this financial year, but then blamed a weaker-than-expected economy for most of the $10 billion blowout in the expected budget deficit.

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