International students make fake growth

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Since the international borders reopened following the pandemic, a sizable proportion of Australia’s growth has stemmed from two sources: exports and government spending.

Given the impact of the war in Ukraine on commodity prices, it’s self-evident that exports would play a major role in the growth of the economy.

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But there is a surprising factor that has ended up doing a great deal of the heavy lifting in keeping the national accounts in positive growth.

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