Budget papers 2007 - 2008
2007/08 Budget paper
Northern Territory. Department of Treasury
Northern Territory budget papers; Reports; PublicationNT
2007-05-01
Made available via the Publications (Legal Deposit) Act 2004 (NT).
English
Appropriations and expenditures; Periodicals; Budget; Finance, Public
Northern Territory Government
Darwin
2007/08
application/pdf
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
https://creativecommons.org/licenses/by/4.0/
https://hdl.handle.net/10070/244905
https://hdl.handle.net/10070/591630
https://hdl.handle.net/10070/591624; https://hdl.handle.net/10070/591625; https://hdl.handle.net/10070/591628; https://hdl.handle.net/10070/591632; https://hdl.handle.net/10070/591634; https://hdl.handle.net/10070/591619; https://hdl.handle.net/10070/591621; https://hdl.handle.net/10070/591623
Northern Territory 007-08 budget External Economic Environment Global growth is forecast by Consensus Economics to ease slightly to 4.7 per cent in 2007. Economic growth is expected to be strong in China, India and many South East Asian countries. Risks to the generally positive outlook include the possibility of inflationary pressures leading to further increases in interest rates and a greater than expected slowdown in the United States economy. Consensus Economics forecasts Australian GDP growth of 2.9 in 2007. ABARE forecasts mineral and energy exports to increase by 20 per cent to about $111 billion, with both value and volume increasing. Negotiations are proceeding with China, Malaysia, Japan, Chile and Korea for free trade agreements. GDP Growth (%) 2004 2005 2006 2007e 2008f North East Asia China 10.1 10.2 10.5 9.6 9.4 Korea 4.7 4.0 5.0 4.4 4.9 Japan 2.7 1.9 2.2 2.1 2.3 Taiwan 6.1 4.0 4.3 4.0 4.6 Hong Kong 8.6 7.3 6.5 5.1 5.0 South East Asia Philippines 6.0 5.1 5.0 5.4 na Indonesia 5.1 5.6 5.4 5.9 5.9 Malaysia 7.2 5.2 5.9 5.4 5.7 Thailand 6.3 4.5 4.6 4.8 5.0 Singapore 8.7 6.4 7.7 5.2 5.5 North America United States 3.9 3.2 3.3 2.4 3.0 Canada 3.3 2.9 2.7 2.4 2.9 Eurozone 1.8 1.5 2.8 2.3 2.1 Russia 7.2 5.5 6.5 6.5 na India 7.5 8.4 8.4 7.8 na Australia 3.7 2.8 2.5 2.9 3.2 New Zealand 4.4 2.1 1.7 2.1 2.8 e: estimate; f: forecast na: not available Source: Consensus Economics Consensus Forecasts (India: financial year reported); Russia, Philippines: International Monetary Fund GDP Growth (annual percentage change)