Global growth has lost momentum since the start of the year, leaving the world economy in a “precarious” position, IMF Managing Director Christine Lagarde said. The global economy has weakened since the International Monetary Fund last updated its forecast in late January, though a recession isn’t likely in the near term, Lagarde said Tuesday. She characterized the slowdown as a “synchronized deceleration” during a panel discussion after her speech.
The centerpiece of the Coalition’s plan was a pledge to deliver A$158 billion of tax relief for more than 10 million Australians, and in a bid to ease congestion in major cities and improve access to regional Australia, the government announced A$100 billion in infrastructure spending over 10 years. The Treasury projected a A$7.1 billion surplus for the fiscal year through 2020, or A$3 billion more than a December estimate, thanks to surging commodity prices and a hiring bonanza.
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