Large movements in relative prices will create winners and losers this year, the IMF has said. EPA/MICHAEL REYNOLDS

China economy to slow, hurting Australia: IMF

A new IMF report predicts a crackdown on cheap credit in China will help reduce China’s real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
Treasurer Joe Hockey and Finance Minister Mathias Cormann say the government’s mid year outlook sets the path to budget recovery. AAP/Lukas Coch

Federal budget deficit climbs to $40.4bn: experts react

The federal budget deficit will blow out to A$40.4 billion in 2014-15, up from the $29.8 billion forecast in May’s budget, according to the Mid-Year Economic and Fiscal Outlook (MYEFO) released today…
Treasurer Wayne Swan’s Mid-Year Economic and Fiscal Outlook reveals the government’s commitment to deliver a budget surplus for 2012-13. AAP

Swan cuts to save surplus: the experts respond

The Federal Government will make around $16.4 billion in new savings over the forward estimates to keep the budget in surplus despite a decline in revenue, according to documents released today. Treasurer…
“And then there’s this…” Will there be any surprises in store for this year’s budget? AAP

Wish list for Wayne Swan: what the experts want from the budget

Federal Treasurer Wayne Swan will be busy tonight handing down the Federal Budget with all the policy settings we’ll need to ensure Australia’s future prosperity (and not simply as a re-election platform…
IMF head Christine Lagarde sees some positives in global economic growth: but we should be wary of broad projections. AAP

Trouble lurks for Australia amid shallow economic forecasts

The recent economic forecasts of the IMF and OECD about prospects for economic growth remind me of an aphorism about the economist who drowned while crossing a river he estimated that was, on average…
Treasurer Wayne Swan is maintaining a slimmed down surplus for 2012-2013 - but storm clouds are rolling over the global economy. AAP

Slimmed down surplus as Swan unveils mid‑year budget: experts respond

The Federal Government is still aiming to deliver a slimmed down surplus next financial year, but has downgraded economic growth forecasts amid a slowing world economy and news that Europe may already…
Foster’s chairman David Crawford is under pressure from a hostile bid from SABMiller. AAP

It’s hard to see why shareholders won’t ditch Foster’s

If I were a shareholder in Foster’s, which is facing a hostile takeover bid from global brewer SABMiller, there are three questions that I would ask myself before deciding whether to sell my stake. First…
German chancellor Angela Merkel and French President Nicolas Sarkozy have outlined a rescue plan for the Eurozone. AFP

PIIGs might fly ‑ is a single economic government the way forward for Europe?

German Chancellor Angela Merkel and French president Nicolas Sarkozy have overnight laid out plans for a stronger European integration that seeks to control deficit restrictions on member countries and…
Can China continue to float our boats as the global economy teeters? AAP

Amid global market turmoil, can China keep our economy afloat?

Federal Treasurer Wayne Swan has seized on positive comments about Australia’s economy in an International Monetary Fund report as evidence the country can endure another global financial crisis. The report…

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