IMF shreds Budget, RBA growth outlooks

Wednesday 10 April 2019

The IMF was out with its new World Economic Outlook overnight and the news for Australia is steeper growth downgrades than just about anywhere else:

2.1% for 2019 is miles below the RBA’s and Budget’s 2.75% (though the latter is for 2019/20). I will add that level of growth will not hold unemployment.

And what exactly is going to drive this sudden rebound to 2.8% in 2020? Rate cuts will help but:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.