Original article by Patrick Commins, Joe Kelly
The Australian – Page: 1 & 4 : 23-Aug-23

The federal government’s latest Intergenerational Report will show that Australia faces slower growth and higher taxes due to an ageing population and lower productivity. The Treasury has also forecast that quarterly economic growth will be ‘marginal’ over the next year, leaving Australia vulnerable to domestic and overseas shocks. The deteriorating Chinese economy is a key potential risk to Australia’s growth outlook, with the Chinese government appearing to be reluctant to pursue further stimulus measures at this stage. Meanwhile, Treasury officials expect the projected Budget surplus of more than $20bn for 2022-23 to be a one-off, with the prospect of deficits for at least the next decade.

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AUSTRALIA. DEPT OF THE TREASURY