# Jim Chalmers faces hard choices as solving one problem risks worsening another

https://mins.news/en/item/112164

- The Guardian, 2026-10-23 04:54 UTC
- Economy
- Original: https://www.theguardian.com/business/2026/oct/23/jim-chalmers-hard-choices-economy-inflation-unemployment

> Australian Treasurer Jim Chalmers says officials are downgrading forecasts ahead of December’s mid-year budget update, with slower growth and higher unemployment expected. Higher oil prices linked to the widening Middle East conflict are adding to inflation and interest-rate pressures, while debt concerns around AI infrastructure spending have rattled markets.