Jim Chalmers said he was not expecting a recession, but acknowledged the national accounts data from the Australian Bureau of Statistic was "very week".
Treasurer Jim Chalmers has insisted Australia is not heading for a recession, despite the economy recording its weakest growth in nearly three years.this morning after data released yesterday showed gross domestic product rising by just 0.1 per cent in the first three months of the year.
"The economy barely grew in the first three months of the year. We knew it was going to be weak. And that was the case ... people know that the economy is soft and they are under pressure," he said. "That's putting people under a lot of pressure and it's slowing the economy as well. There are some other factors, too.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2024: Treasurer Jim Chalmers urges ‘sense of perspective’ on inflationThe new package to be detailed in the budget aims to enable states and territories to combat homelessness and repair social housing.
Read more »
Budget 2024: Treasurer Jim Chalmers told to turbocharge small business instant asset write-offSmall business says Labor’s investment tax break is not ambitious enough to boost growth in the economy.
Read more »
Treasurer Jim Chalmers denies interest rate rise would be 'shattering verdict' on budgetTreasurer Jim Chalmers has declined to accept he would be at fault if the Reserve Bank were to raise interest rates again later this year.
Read more »
Treasurer Jim Chalmers talks to 7.30Sarah Ferguson presents Australia's premier daily current affairs program, delivering agenda-setting public affairs journalism and interviews that hold the powerful to account. Plus political analysis from Laura Tingle.
Read more »
Treasurer Jim Chalmers hands down the 2024 Federal BudgetTreasurer Jim Chalmers has unveiled his federal budget for the next financial year, and announced a budget surplus for the second consecutive time - the first time that's happened since before the Global Financial Crisis in 2008.
Read more »
Budget 2024: Why Andrew Forrest is a big winner from Treasurer Jim Chalmers’ budgetJim Chalmers’ $23 billion bet on turning Australia into a green industry superpower ignores many of the issues on the top of the business sector’s wishlist.
Read more »