More than 1.4 million Australian families will benefit from an increase to their Centrelink payments from July 1. 7NEWS
remains confident Australia will be able to avoid a recession, despite economic headwinds.
“I’m very confident that the Australian economy can continue to grow, which means we won’t be in that circumstance,” Albanese told“Part of that is about confidence in the economy. One of the things that are driving higher inflation, of course, is higher demand as well.”Credit:The comments come as inflation has risen to some of its highest levels in two decades, while the Reserve Bank recently increased official interest rates by the largest amount in a single month since 2000.
“I’m optimistic about Australia’s future,” he said, “We are positioned as well, in a number of ways, with incredible opportunity, not the least of which is we’re in the fastest-growing region of the world in human history, we have an opportunity to be a renewable energy superpower.”
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