Here are the economic forecasts that underpinned Australia's budget last year

Clodagh Kilcoyne/Getty Images

Treasurer Scott Morrison will hand down Australia’s 2018/19 budget later this evening, including updated economic forecasts.

As a reminder on what the government was thinking six months ago, here are Treasury’s economic projections from its mid-year economic and fiscal outlook (MYEFO) released in December.

Source: Australian Treasury

When it comes to the new budget forecasts, keep a close eye on the government’s expectations for nominal GDP, employment growth, the wage price index as well as its commodity price assumptions.

These will provide a broad picture for the income side of the economy, and will help determine whether the government’s fiscal projections are realistic for the years ahead.

For those who would like to see the government’s longer-term forecasts from last years budget, they are found here.

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