March 18, 2026 | 03:51 pm
TEMPO.CO, Jakarta - Australian Prime Minister Anthony Albanese has highlighted new measures aimed at protecting Australians from the "worst" economic uncertainty triggered by the ongoing conflict in the Middle East.
In a speech at an automotive industry event on Wednesday morning local time, Albanese described the Middle East conflict as another "major shock to hit the global economy" in the 2020s, following the COVID-19 pandemic and the Russia-Ukraine war.
"We want to make sure that we do everything we can to shield the Australian economy, households, and businesses from the worst of global uncertainty," Albanese said.
He also pledged to announce the specific steps the government will take in the coming days.
Albanese announced that he has arranged an emergency meeting with state and territory leaders for Thursday, March 19, to ensure that fuel from the national reserve is distributed to areas most in need, particularly regional communities, while emphasizing the need for the country to build self-reliance.
"We have to build an economy that is more resilient, more self-reliant and geared to our national strengths," he said.
Earlier on Wednesday, Australian Treasurer Jim Chalmers told the Australian Broadcasting Corporation that the 2026-2027 federal budget, which he is set to deliver in May, will focus on inflation, productivity, and global economic uncertainty.
Read: UN: Middle East Conflict Could Push 45 Million More Into Hunger
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