Advertisement
Recall that last week’s federal budget massively ramped up Australia’s net overseas migration (NOM) projections:
NOM is now expected to hit a record high 400,000 in 2022-23 before falling to 315,000 in 2023-24. Then it will fall to 260,000, where it will stay over the forward estimates.
These new projections were a large increase on the October budget’s, which forecast 235,000 NOM between 2022-23 and 2025-26:
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.