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AUSTRALIA FACES ANOTHER YEAR OF WEAK GDP GROWTH

Michael ReadEconomics correspondent
Updated Mar 6, 2024 – 7.15pm, first published at 12.07pm
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Australia faces another year of weak conditions that will squeeze company
profits, push up unemployment and risk sending the budget into deficit,
economists warned, after growth slumped to 1.5 per cent.

Treasurer Jim Chalmers warned the fall in gross domestic product meant it was
unlikely Treasury would continue to receive multi-billion dollar tax windfalls,
as the government weighs a pre-election spending boost that could hit the budget
bottom line.



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