Federal Election 2015: Treasury to release PEFO budget update on Friday

The Federal Government has announced that it will release Treasury's pre-election budget update on Friday.

The Pre-Election Economic and Fiscal Outlook (PEFO) gives an update on budget forecasts, including the iron ore price outlook.

A legacy of the charter of budget honesty, introduced by former Treasurer Peter Costello, it's designed to reveal any changes in the nation's fiscal position since the budget, which was only a fortnight ago.

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