SYDNEY - Australia's treasurer warned on Monday that events in the Middle East are fueling concerns for the global economy and will shape the government's budget in May, with near-term outlook downgrades for its major trading partners.
Chalmers has just finished a trip to Washington where he attended meetings of G20 finance ministers and central bankers. "Relieving cost-of-living pressures, repairing our budget and reforming our economy is the best antidote to the kinds of risks that we see escalating around the world."It is set to revise up its China 2024 growth forecast slightly to 4.75% but cut the outlook for next year by 0.25 percentage points to 4.25%. Japan's forecast for this year has also been lowered by 0.25 percentage points to 0.75%.
Source: Financial Digest (financialdigest.net)
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