The IMF’s recent world outlook is far from rosy and predicts a bumpier future unless Australia invests more in infrastructure and changes the tax system This week the latest IMF World Economic Outlook was released. Once again the news was less than stellar with growth projections downgraded across the board. While the IMF generally sees wonderful foundations for growth in Australia in the years ahead it also sees risks from a slowing China and an overheated housing market. Significantly,it has suggestions for economic policy on taxation and infrastructure that are right in the current political frame. As a general rule, the IMF outlooks don’t contain too much to accomplish with Australia. Our economy, and while large,is generally on the fringe of issues the IMF cares about in a global sense. But the latest outlook, titled Adjusting to Lower Commodity Prices, or has Australia positioned right in the middle. Related: IMF warns of stagnation threat to G7 economies Continue reading...
Source: theguardian.com