Government Spending Keeping Economic Growth Alive: Treasurer

Experts have declared Australia is now in an ‘undeclared recession.’

A truck drives past the container terminal at the Port of Melbourne in Melbourne, Australia on Sept. 4, 2024. William West/AFP via Getty Images

Treasurer Jim Chalmers has defended his government’s performance despite the latest GDP growth figures being the lowest since 1991-92.

The Labor minister attributed the situation to “global uncertainty, price pressures, and higher interest rates.”