‘Australia Will Avoid a Recession’ as World Faces Economic Slump: Treasurer

Treasurer Jim Chalmers delivers his Budget Address at Parliament House in Canberra, Australia on Oct. 25, 2022. Martin Ollman/Getty Images

As global economic forecasts heavily point towards pockets of recession, Australian Treasurer Jim Chalmers remains optimistic that Australia will evade a prolonged economic slump.

“It’s our expectation that Australia will avoid a recession. The numbers that the Treasury put into the budget that I handed down not that long ago in October certainly made that expectation clear,” he told ABC on Jan. 13.