IMF expects Australia’s economy to slow amid ‘perilous’ international pressures

International Monetary Fund forecast echoes predictions from Treasury and RBA and warns ‘ominous forces’ may be behind global economic strains

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Australia’s economic growth will slow as the global economy faces “perilous” challenges, persistently high inflation and risks of further financial turmoil, the International Monetary Fund said in its latest global outlook report.

The country’s gross domestic product grew last year by 3.7% but is expected to expand just 1.6% this year and 1.7% in 2024, according to the IMF’s forecast – barely above population growth.

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