Treasurer Jim Chalmers has returned from talks with some of his G20 finance ministerial colleagues in Washington DC, armed with new information that will inform next month’s budget. While Chalmers said he’s still aiming for another surplus, the DC meetings have given the Labor treasurer some pause.
Chalmers told reporters there were five major global influences that will impact the Australian bottom line: “Inflation is lingering in North America; growth is slowing in China and elsewhere; tensions are rising in the Middle East and are prolonged and dug in in Eastern Europe; supply chains are fragmenting; and the global economy is transforming.
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