The Budget papers are huge and Delusional Economics has done a great job of summing up them up.
But for statistical wonks like myself it is the full papers that really excite . I’ll troll through the papers over the next day or so to draw out anything interesting.
For today, the below chart was on page 8 of the Budget overview. It’s the Budget deficit as a percentage of GDP
Whatever you think of the Budget and the issues around the structural deficit there is little doubt that Australia has one of the strongest public balance sheet positions in the developed world. If you think of the government as a company, which one would you invest in?
With world markets focussed on debt and deficits, this highlights why central banks and investors are diversifying into Australian Dollars.