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The Guardian - AU
The Guardian - AU
Business
Peter Hannam Economics correspondent

The IMF has painted a grim picture of the world economy. What does it mean for Australia?

A shopper in a supermarket
The IMF warns the world economy is facing a ‘perilous phase’. It predicts Australia’s GDP growth will more than halve to 1.6% this year. Photograph: Amer Ghazzal/Rex/Shutterstock

The International Monetary Fund’s latest report on global growth makes for some sobering reading, with the outlook over the next five years the weakest in more than three decades.

Entitled A Rocky Recovery, the report tells us the world is facing a “perilous phase”, with “feeble and uneven growth” partly blamed on “ominous forces” that could drag on growth and living standards for the rest of the decade and beyond.

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