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                        <gco:CharacterString>State Budget 2024-25 - Macroeconomic Indicators</gco:CharacterString>
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                <gco:CharacterString>The Department forecasts a number of macroeconomic aggregates for inclusion in the budget papers.
These forecasts have three main purposes:

they provide a framework for presenting the economic context in which the budget is developed
most of the economic aggregates or their sub-components are used in the modelling of taxation and other revenue lines and
forecasts of nominal gross state product (GSP) are used to express key financial aggregates in relation to the size of the economy, such as non-financial public sector net debt to nominal GSP.

The spreadsheet contains the seven published aggregates for the budget papers (Budget and Budget Update):

real GSP
nominal GSP
employment
unemployment
the consumer price index
the wage price index
population.
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