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Business

Poppy Johnston

Budget clouded by global wars and weak economic growth

Economy the International Monetary Fund Jim Chalmers International Monetary Fund Inflation PierreOlivier Gourinchas

Treasurer Jim Chalmers will use talks in Washington to take the temperature of the global economy. (Mick Tsikas/AAP PHOTOS)

Fog blanketing the Australian economy is unlikely to lift this year, with a weak growth outlook and volatile global conditions setting a complex scene for the federal budget.

Australia's economic growth is expected to rise 1.5 per cent in 2024 and two per cent in 2025, the International Monetary Fund said in its latest global assessment.

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