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Australia’s debt to 37% of GDP by 2028, driven by deficits, aging population, and rising costs, threatening services and growth.
Australia’s government debt is projected to reach a post-WWII high of 37% of GDP by 2028, driven by sustained budget deficits, rising health and social spending, and an ageing population.
Federal and state governments face growing fiscal strain, with spending at 38.2% of GDP and debt at a record $990.5 billion.
Persistent deficits, declining productivity, and increasing interest payments threaten public services and long-term economic stability.
The IMF and e61 Institute warn that without tax reform or spending controls, future generations may face higher taxes, reduced services, and lower growth.
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La deuda de Australia se elevará al 37% del PIB en 2028, impulsada por los déficits, el envejecimiento de la población y el aumento de los costes, lo que amenaza los servicios y el crecimiento.