Fed: IMF figures show "recession inevitable", Swan says

AAP General News (Australia)
04-23-2009
Fed: IMF figures show "recession inevitable", Swan says

Federal Treasurer WAYNE SWAN says an Australian recession is inevitable.

It comes after the International Monetary Fund slashed its forecast for Australian
economic growth .. predicting it will contract by 1.4 per cent this year.

The IMF also predicts world growth to decline by 1.3 per cent this year .. more than
the one per cent fall it projected in March.

Mr SWAN says it's the worst set of global forecasts the IMF has bought down.

He says the world recession will be deeper and longer than previously forecast .. making
an Australian recession inevitable.

AAP RTV srj/ka

KEYWORD: CRISIS IMF SWAN (CANBERRA)

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