Five things Myefo tells us about the state of the Australian economy

The economy’s rebound won’t be as strong as anticipated and more government rebates seem to be pencilled for the coming year

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• Federal budget $27bn in the red and won’t return to balance for a decade, Myefo forecasts

Among those poring over today’s release of the Albanese government’s midyear budget scorecard will be Reserve Bank economists and those millions of borrowers holding out for early interest rate relief.

Here are some of the key economic takeaways from the midyear economic and fiscal outlook: