As part of its economic outlook revisions, the International Monetary Fund has slashed GDP expectations for Australia.
expects +3.8% in 2022
- compared with its +4.2% forecast issued in April
expect s +2.2% for 2023
- compared with +2.5% issued in April
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The IMF says on the global outlook, its “darkened”
- growth across Asia and the Pacific is poised to slow further amid the continuing impact of Russia’s invasion of Ukraine and other shocks
- several economies will need to raise rates rapidly as inflation is broadening to core prices
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