ABC News – Top stories
·general
·2 hours ago
Treasury's impossible task: Prepare a budget as oil shock unfolds
Treasurer Jim Chalmers must prepare the 2025 federal budget amid the ongoing closure of the Strait of Hormuz. With proposed NDIS reforms projected to save $15 billion annually, uncertainty looms as the U.S. claims control over the strait while Iran remains defiant. Any prolonged blockage could severely impact the global economy and escalate into a recession.
Summary by Glance · ABC News – Top stories
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