Australia's Treasury Warns of Recession Risk
Published: May 12, 2026
Duration: 1:26
Australias Treasury warns of potential recession due to a severe Middle East oil crisis, with inflation surging past seven percent. The government responds with a $11.9 billion package to boost fuel reserves, cut fuel excise, and halt heavy vehicle charges. Despite the global chaos, Chalmers emphasizes Australias resilience and readiness to face the challenge.
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