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IMF casts doubt over domestic growth forecast

Staff Reporter 1 minute read

The International Monetary Fund (IMF) has forecast a slow recovery for Australia, prompting speculation that the government’s budget forecasts for growth are too optimistic.

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Previously unreported IMF staff estimates obtained by The Australian suggest the economy will struggle to return to long-trend annual growth of just over 3 per cent before 2014, in spite of government forecasts of annual growth of up to 4.5 per cent by 2011.

The revelation coincides with a Newspoll conducted for the daily which found only 30 per cent of voters believed Wayne Swan's assurance that the budget would return to surplus by 2015-16.

 

IMF casts doubt over domestic growth forecast
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