A gloomy outlook for the world economy has been a constant theme from Treasurer Jim Chalmers in recent weeks as he scrambles to find savings in this month's federal budget.
That pessimism has been confirmed by the International Monetary Fund which has downgraded growth expectations for Australia's economy while warning the global economy is on the brink of recession.
The IMF is warning that much of the world is on the brink of a recession, while Australia's economy is also slowing down, just as the Federal Treasurer prepares to hand down his first budget.
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