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Australia's Treasury Preps for Recession Amid US-Iran Conflict

Published 6 days, 13 hours ago
Description

Australias Treasury prepares for potential global economic chaos due to US-Iran conflict, with Treasurer Jim Chalmers crunching multiple scenarios. The OECD cuts global growth forecast, warning of significant downside risks if the Middle East turmoil persists. Former Aussie finance minister Mathias Cormann, now OECD head, emphasizes the need for governments to collaborate and protect citizens from potential economic blows.

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