Territory Stories

Budget papers 2007 - 2008

Details:

Title

Budget papers 2007 - 2008

Other title

2007/08 Budget paper

Creator

Northern Territory. Department of Treasury

Collection

Northern Territory budget papers; Reports; PublicationNT

Date

2007-05-01

Notes

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Appropriations and expenditures; Periodicals; Budget; Finance, Public

Publisher name

Northern Territory Government

Place of publication

Darwin

Volume

2007/08

File type

application/pdf

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0/

Parent handle

https://hdl.handle.net/10070/244905

Citation address

https://hdl.handle.net/10070/591630

Related items

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

Page content

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)