Prioritising Economic Security in a ‘Fragmenting’ World: Treasurer

There will be a “real emphasis on economic security” in the next federal budget in response to a range of concerns about the global economy, Treasurer Jim Chalmers said today. He described current economic conditions as being a “tricky balance of risks” as inflation remains an issue. “What you’ll see is a real premium on responsibility and these conditions, but also a real emphasis on economic security,” he said. “We’ve got supply chains which are straining, and we’ve got a global economy which is fragmenting and transforming.” The April World Economic Outlook predicts global growth in 2024 to rise by 3.2 percent, 0.1 percentage points higher than signalled in the previous January update....