The Age ·australia ·3 hours ago

New South Wales' economy forecasts just 1 percent growth amid rising debts

New South Wales' economy is expected to experience sluggish growth, with Treasurer Daniel Mookhey forecasting just 1 percent in the coming year. He attributed the downturn to rising interest rates and turmoil from international conflicts, pointing out that NSW families are burdened with higher mortgage debts compared to other states. Growth predictions have been downgraded significantly since last December.

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