GDP rose by 0.2% q/q (1.0% y/y) marginally weaker than we expected (and in line with consensus).
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Building confidence and providing support through expanded investment for the agricultural industry.
Overall, agriculture will benefit with much of the new funding aimed to facilitate investment in northern Australia and a response to the ongoing drought in many parts of the country. There is also an expanded focus on biosecurity as well as beneficial tax changes for farmers.
To find out what it means for agribusiness, download the fact sheet:
For more Federal Budget insight and analysis, visit our Federal Budget hub
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