Exclusive: Treasurer expects ‘bumpy’ year ahead as Australia feels the squeeze of higher interest rates and China’s slowdown
Jim Chalmers has warned there is no guarantee Australia’s economy is heading for a soft landing aftershowed growth would be going backwards were it not for population increase and infrastructure spending.
“And I think it is true that the coming 12 months or so will be bumpy in the economy, and we know that the most important consequence of that is that people are feeling the squeeze.” “I don’t want to say that we’re hostage to [a slowing economy] in China, or, you know, the impact of these rate rises which are already in the system,” the treasurer said.
Chalmers said there was still a lot of turbulence in the global economic outlook but China’s slowdown was “the sharpest point of risk”.
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