International Monetary Fund points to ‘ambitious reform’ in Aussie economy

The International Monetary Fund’s latest assessment of Australia’s economy shows “the importance of our ambitious reform agenda”, federal Treasurer Jim Chalmers says.

The IMF says Australia’s public debt “remains low relative to many advanced economies” with a “solid foundation for stable growth and resilience to large shocks”.

Mr Chalmers said the IMF had highlighted the Labor government’s debt reduction and cuts to the National Disability Insurance Scheme.

“Our responsible economic management means debt last year was down almost $200bn compared to what we inherited. We are avoiding $70bn in interest costs, and it’s good to see the IMF welcome our spending restraint and reforms to the NDIS,” he said.

“The IMF’s statement highlights Australia’s relative economic strengths and the importance of our ambitious reform agenda.

“It’s a timely endorsement of our economic strategy at a time of accelerating change and uncertainty in the global economy.”

Speaking about its latest report on the Australian economy, the IMF identified Australia was “in a good position to tackle long-term challenges from ageing and climate change”.

Originally published as International Monetary Fund points to ‘ambitious reform’ in Aussie economy