MATT SHIRVINGTON:
Economic ministers and bank governors from around the world are meeting in Washington this week. Now, let’s bring in the national Treasurer in Jim Chalmers. Thanks so much for spending a little bit of time with us. Before we get to the global economy, can I just get your thoughts on the evolving situation in Victoria, the floods are having a huge impact on residents there. What are your thoughts?
JIM CHALMERS:
Good morning Matt, unfortunately those are devastating scenes out of Victoria and over the border. I know it’s going to be heartbreaking for a lot of Australians today. I know from my own neighbourhood, what it's like when so many homes go underwater. Our hearts goes out to everybody affected. I know people will be there for each other and the Government will be there for them as well.
SHIRVINGTON:
A dire situation continues to grow. A dire situation in regards to the global economy You are in the United States at the moment. What are you hearing from your counterparts and how is Australia and the conditions threatening Australia and the economy here, compared to overseas?
CHALMERS:
There is no use beating around the bush Matt, it's going to be a bumpy ride in the global economy over the next six or nine months at least ‑ that's the strong expectation from all the colleagues from around the world I been holding discussions with here in Washington DC. The world is treading a pretty narrow and perilous path when it comes to this inflation problem we've all got, you've got the war in Ukraine, you’ve got some other issues in our supply chains and for all those reasons there is a lot of concern about the global economy.
The good news for Australia is we are in better nick than most of our peers but we need to be much better still, and that's because the best defence against this pretty severe deterioration in the global economy is a good, strong responsible Budget and that's what I will be handing down in two Tuesdays time.
SHIRVINGTON:
Thank you so much for your time, national Treasurer. We will catch up with you soon.