Australia Budget Reflects Post-Covid Recovery

Australia’s federal budget forecasts strong economic growth, low unemployment and rising wages growth but the ongoing coronavirus pandemic and war in Ukraine pose lingering threats to the rosy assessment.

The economy is forecast to expand by a robust 4.5% this financial year, up from the 3.75% tipped in December. The budget predicts net overseas migration to surge from just 41,000 people this financial year to 235,000 in 2024-25.

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Tags: Australia Budget

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.