How it began v how it’s going: 2024 budget shows limits of financial forecasting

Australia's financials have generally improved compared with forecasts made a year ago but there are threats to the country's outlook lurking

• Federal budget 2024 reaction - live updates
• Explore all of our 2024 budget coverage
• Budget: the six graphs you need to see
• Get our morning and afternoon news emails, free app or daily news podcast

Financial forecasting is difficult at the best of times, let alone during a period marked by persistent inflation against a backdrop of global economic unease.

But forecasts still provide a framework for governments to build their policy and spending plans around. Australia's financials have generally improved compared with forecasts made a year ago but there are more than a few threats to the country's outlook lurking.

Sign up for Guardian Australia's free morning and afternoon email newsletters for your daily news roundup