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Alex Joiner, chief economist at IFM Investors, published a short analysis of the impacts of rising energy costs on the federal budgets and on Australians as a whole:
Joiner argues that the energy shock is “not bad for Australia” but “terrible for Australians”.
Joiner notes that higher energy prices will likely drive up Australia’s export prices and terms of trade, presumably via the transmission of higher gas prices (Australia is one of the world’s largest gas exporters).
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.