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Australian economy tipped to grow slower than Greece as signs show tax cuts haven’t worked
The International Monetary Fund has sharply downgraded forecasts for the Australian economy for this year and next, as evidence mounts the Morrison government's personal income tax cuts are not being spent by cautious consumers who are trying to get on top of their mortgages.
The IMF believes the Australian economy will grow by just 1.7 per cent this year, making it weaker than the economy of Greece, which has gone through several years of depression.
- Authors
- The Age
Twelve months ago the fund tipped Australia to …