Australian Treasurer Predicts Economic Recovery Despite Poor Performance
Jim Chalmers stated that the economy faced numerous challenges, but the government was taking action to address them.
The Australian Treasurer, Jim Chalmers, assured that the country was not heading towards a recession despite the slow economic growth.
Based on the latest national account figures, the Australian GDP grew by 0.1 percent in the March 2024 quarter, a decline from 0.3 percent in the previous three months and 0.2 percent in the September 2023 quarter.
During the same period, GDP per capita fell by 0.3 percent, marking the fifth consecutive quarterly decrease.
This weak economic performance has sparked concerns about a possible recession.
However, in an interview on June 6, Mr. Chalmers dismissed the idea of an impending recession.
“That’s not our expectation,” he stated on the Today show.
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