Article 6APT7 IMF expects Australia’s economy to slow amid ‘perilous’ international pressures

IMF expects Australia’s economy to slow amid ‘perilous’ international pressures

by
Peter Hannam
from on (#6APT7)

International Monetary Fund forecast echoes predictions from Treasury and RBA and warns ominous forces' may be behind global economic strains

Australia's economic growth will slow as the global economy faces perilous" challenges, persistently high inflation and risks of further financial turmoil, the International Monetary Fund said in its latest global outlook report.

The country's gross domestic product grew last year by 3.7% but is expected to expand just 1.6% this year and 1.7% in 2024, according to the IMF's forecast - potentially less than population growth.

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