by Sanjeev Sah | Jan 26, 2023 | Market Updates

The global economic outlook might be gloomy with the International Monetary Fund recently warning of a “tough year ahead”.

But Australia’s economy is known for its resilience – and this year is unlikely to be different.

The IMF has pencilled in growth of 1.7% in 2023, pointing to the nation’s “still-resilient domestic buffers” including decent household savings as to why we’ll outperform many of our global counterparts.

Similarly, the OECD has projected our economy to grow by 1.9% over the next 12 months (see image), citing Australia’s position as a major commodity exporter.