Australia economy to slow, govt spending to rise as population ages-report

Australia's population aging and slower economic growth over the next four decades will put pressure on the budget and increase national debt, according to a government report, with taxation reforms notably absent from the suggested solutions.

reuters.com

Relevant topic timeline:

8/21/2023

Australia's $1.5 trln pension sector invests in debt again

Australia's pension sector has increased its investments in local and foreign debt by over A$20 billion in the past year, as higher yields make fixed income assets more attractive. This shift marks a departure from the country's traditional preference for equities and reflects a broader trend of pension funds globally increasing their allocations to fixed income securities.

8/21/2023

Slower growth ahead for Australia as population ages

Australia's economy is projected to grow more slowly over the next 40 years due to an aging population and slower population growth, according to long-range economic forecasts published by the government.

8/26/2023

No real fix to the sharp rise in public debt loads, economists say

The steep increase in public debt worldwide due to the Global Financial Crisis and the COVID-19 pandemic is likely irreversible, as countries struggle to reduce debt-to-GDP ratios due to factors such as population aging and increased public financing needs, according to economists at the International Monetary Fund and the University of California, Berkeley.

8/26/2023

The Australian way of life faces extinction

Australia's population growth, driven by high levels of immigration, is leading to a housing crisis, infrastructure shortages, and environmental issues, raising concerns about the country's ability to sustain a quality way of life and achieve climate goals.

9/21/2023

Australia Posts First Budget Surplus in 15 Years as Jobs and Commodities Boost Revenue

Australia's first surplus in 15 years has been revised up to $22.1 billion, driven by surging tax receipts, and while it may raise hope for a second year's surplus, the economy is expected to experience slow growth due to interest rate rises and a per-capita recession.

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Posted 8/24/2023, 6:39:25 AM

Australia economy to slow, govt spending to rise as population ages-report

reuters.com

Relevant topic timeline:

8/21/2023

Australia's $1.5 trln pension sector invests in debt again

8/21/2023

Slower growth ahead for Australia as population ages

8/26/2023

No real fix to the sharp rise in public debt loads, economists say

8/26/2023

The Australian way of life faces extinction

9/21/2023

Australia Posts First Budget Surplus in 15 Years as Jobs and Commodities Boost Revenue