Government GDP spending sitting ‘five to six' per cent higher than historical averages
S&P Global Director Anthony Walker discusses the higher GDP spending in Australia and how there are limited signs of stagnation or attempts to pull it back down to 'historical averages'.
'It is one of the concerns we have, and it is not just at the federal level, this is going across all the states as well … spending was around 20 per cent of GDP for the last 40 years,' Mr Walker told Sky News Australia.
'What we are seeing now is that it is around 26 to 27 per cent. We knew it was going to be there during COVID, but most countries have started trying to pull that back … five or six per cent higher than historical averages.'
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