ABS analysis of COVID-19 effects on quarterly government finance statistics (GFS) shows that during March quarter of 2020-
- Tax revenue fell by 4% to $137,897 million while expenses surpassed revenue resulting in a net operating balance of -$7,296 million
- GFS net lending/borrowing position was -$14,815 million
- General government final consumption expenditure in seasonally adjusted (SA) terms increased by 2.0% compared to previous quarter and is expected to contribute 0.3 percentage points to growth in the March quarter 2020 volume measure of GDP
- While general government gross fixed capital formation decreased by $657 million or -3.3%, public corporations gross fixed capital formation increased by $449 million or 7.9% compared to previous quarter in SA terms.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.