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PEFO tells us Morrison has abandoned some secret promises, but his books are in order

  • Written by Stephen Bartos, Professor of Economics, University of Canberra
PEFO tells us Morrison has abandoned some secret promises, but his books are in ordershutterstock

Before each federal election, the heads of the Commonwealth departments of treasury and finance release a report on the state of the government’s budget, together with updated economic forecasts.

It is known as the pre-election fiscal and economic update, or PEFO.

The 2022 PEFO came out on Wednesday afternoon.

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