Australia's Economy Slows: Budget Reveals Growth Cut
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Australias Treasurer, Jim Chalmers, unveils a budget with significantly reduced growth forecasts, attributing the slowdown to supply shortages rather than weak demand. The economy is expected to grow at a slower pace, with productivity gains now projected to take five years instead of two. The budget also accounts for a lower assumed fertility rate and includes reform packages on tax changes, budget fixes, and productivity boosts to alleviate price pressures.
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