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Reuters
Reuters
Business
Wayne Cole

Australia's economy holds plenty of pitfalls for election winner

FILE PHOTO: Australian incumbent Prime Minister Scott Morrison speaks during the second leaders' debate of the 2022 federal election campaign at the Nine studio in Sydney, Australia May 8, 2022. Alex Ellinghausen/Pool via REUTERS/File Photo

Whichever party takes the reins of power at Australia's election on Saturday faces an economic road pitted with pot holes, from runaway inflation to rising interest rates, ballooning debt and an over-heated housing market.

Much of this is beyond the control of any government, but the winners will still be under pressure to ease the cost-of-living crisis without stimulating yet more inflation.

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