The International Monetary Fund (IMF) has given Australia's economy a "big tick," the treasurer has said, despite a warning that wage growth will remain weak.
The IMF, in its 2018 Financial Sector Assessment Program which was released on Thursday, forecast that incomes would grow by 0.3 percent through to 2024, significantly lower than Australia's long-term average of 1.8 percent over the last 50 years.
Responding to the report on Tuesday, Treasurer Josh Frydenberg noted that the report praised Australia's economy overall.
"They said Australia had robust and resilient economic growth, it was above trend," he told Sky News Australia on Tuesday.
"So the IMF gave Australia a big tick in terms of its economic performance and praised our infrastructure spending and, of course, our overall fiscal management."
He cited findings by the Reserve Bank of Australia that there has been a recent "upswing in wages."
The IMF, in its 2018 Financial Sector Assessment Program which was released on Thursday, forecast that incomes would grow by 0.3 percent through to 2024, significantly lower than Australia's long-term average of 1.8 percent over the last 50 years.
Responding to the report on Tuesday, Treasurer Josh Frydenberg noted that the report praised Australia's economy overall.
"They said Australia had robust and resilient economic growth, it was above trend," he told Sky News Australia on Tuesday.
"So the IMF gave Australia a big tick in terms of its economic performance and praised our infrastructure spending and, of course, our overall fiscal management."
He cited findings by the Reserve Bank of Australia that there has been a recent "upswing in wages."
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