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Australia will inevitably slip into recession, Prime Minister Kevin Rudd said on Monday.
"The worst global economic recession in 75 years means it's inevitable that Australia will be dragged into recession," Rudd told an economic forum Monday in Adelaide.
He said seven of Australia's ten largest trading partners were in recession and "the challenge for government is to cushion the impact of recession on business and jobs, through economic stimulus strategy."
"The severity of the global recession has made it impossible for Australia to avoid a further period of negative economic growth," he added. |
