❓ Hon. Sophia Moermond questions the government about the impact of China's economic slowdown on WA, particularly rural and regional areas reliant on resource revenue. The government acknowledges the concern, referencing the upcoming mid-year financial projections and highlighting current robust export figures.
AnsweredQoN 937Legislative Council
QuestionView source ↗
CHINA — ECONOMY
937. Hon SOPHIA MOERMOND to the minister representing the
Treasurer:
My
question is to the Leader of the House representing the Treasurer. Federal
Treasury has significantly downgraded its growth expectations of the
Chinese economy from 4.75 per cent to just three per cent, as the country
contends with a major housing slump and virus-related lockdowns.
(1) Has the
government revised its own economic growth expectations considering that China
is our leading trading partner?
(2) What impacts
does the government forecast the Chinese economic slump will have on rural and
regional parts of WA, many of which are reliant on revenue from the resource
sectors, which will be significantly affected by this?
937. Hon SOPHIA MOERMOND to the minister representing the
Treasurer:
My
question is to the Leader of the House representing the Treasurer. Federal
Treasury has significantly downgraded its growth expectations of the
Chinese economy from 4.75 per cent to just three per cent, as the country
contends with a major housing slump and virus-related lockdowns.
(1) Has the
government revised its own economic growth expectations considering that China
is our leading trading partner?
(2) What impacts
does the government forecast the Chinese economic slump will have on rural and
regional parts of WA, many of which are reliant on revenue from the resource
sectors, which will be significantly affected by this?
AnswerView source ↗
I thank the honourable member for
some notice of the question. I am answering this as the representative of the
Treasurer in this place; it is not the Leader of the House.
(1) Global outlook and risks, and implications for Western
Australia's economy and finances will be provided as part of the
2022–23 Government mid-year financial projections statement ,
which is due for release in December 2022.
(2) Western Australian exports to China remain robust,
totalling $127 billion over the year to August 2022. This is one factor driving the strong employment and
economic growth being experienced in Western Australia, including in the
regions.
some notice of the question. I am answering this as the representative of the
Treasurer in this place; it is not the Leader of the House.
(1) Global outlook and risks, and implications for Western
Australia's economy and finances will be provided as part of the
2022–23 Government mid-year financial projections statement ,
which is due for release in December 2022.
(2) Western Australian exports to China remain robust,
totalling $127 billion over the year to August 2022. This is one factor driving the strong employment and
economic growth being experienced in Western Australia, including in the
regions.
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