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The budget deficit is increasing markedly and will probably top 6% of GDP in 2024 -- the highest level since the late 1980s -- while economic growth remains in the 2-3% range.
The economy is increasingly dependent on the mining sector and on mineral sales to China. The domestic economy remains hampered by depressed internal demand.
Details
DOI: 10.1108/OXAN-DB286471
ISSN: 2633-304X
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The package also contains revenue legislation and lays out key economic assumptions such as the projected oil price and growth expectations for the US economy. A new president and…