Mar 16, 2025 (The Australian - ABIX via COMTEX) --
Federal Treasurer Jim Chalmers will tell the Queensland Media Club in Brisbane today that the economic impact of Cyclone Alfred will result in a cost to the budget of at least $1.2 billion. He will also say that Cyclone Alfred will increase the forecast budget spending on natural disaster-Arelated support to $13.5 billion over the next four years, while Cyclone Alfred could put upwards pressure on inflation, due to factors such as crop damage pushing up the cost of fruit and vegetables. Meanwhile, a report from Deloitte has forecast that net debt as a proportion of gross domestic product will rise from 19.6 per cent this financial year to 23.9 per cent of GDP by 2027-28, due to increased government spending and declining revenues.
Publication Date: 17 March 2025
AUSTRALIA. DEPT OF THE TREASURY
COMTEX_463675381/2229/2025-03-16T18:10:48
By Greg Brown
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