Treasurer Jim Chalmers warns of global economy's 'perilous path' ahead of federal budget

Australia's economic outlook faces downgrades in the Albanese Government's first budget next week, with Treasurer Jim Chalmers cautioning the global economy is treading an "increasingly perilous path". Key points: Treasurer Jim Chalmers says Australia "will not be spared from the consequences of a global slowdown" The government is expected to make spending announcements this week before next Tuesday's budget The NSW government claims it has not got its fair share of the $9.6-billion for infrastructure Fresh from meetings in Washington DC with the International Monetary Fund and G20 finance ministers, Mr Chalmers echoed warnings from leading economists that the risk many of our key trading partners could face recessions was growing. "A weaker global economy with higher inflation and heightened risks makes it even more important we deliver a responsible budget here at home." Since taking office, Mr Chalmers has repeatedly referred to the global gloom in an attempt to start a discussion about the state of Australia's budget, something Treasurer's often do to prepare the population for difficult decisions or contentious reforms.