Global Scans · Australia · Weekly Summary

WHAT'S NEXT?: Australia will no longer be known for being as dependant on the export of natural resources over the next half century as in 2012. The need for new infrastructure to meet the strong population and economic growth of Australia will continue to be a priority for the medium term. There's no doubt the aftermath of China's credit boom poses a much bigger economic threat to Australia than Britain's withdrawal from the European Union. The Growth rate for Australia is expected to be stronger, although still below the long-term trend.

• [New] Like Germany, Japan is rearming, planning to increase military spending by two-thirds by 2027, while Australia is acquiring nuclear submarines with US and UK assistance under the AUKUS pact. Counterfire
• [New] The projected El Nino is likely to yield asymmetric impacts; with drought-like conditions reducing maize, rice, and wheat production in Asia and Australia and wet conditions boosting global soybean production in the Americas. ORF Middle East
• [New] Australia Post has launched its 2030 Sustainability Framework, setting new targets to reduce carbon emissions and keep resources in use across its fleet, properties and operations over the next five years. International Post Corporation
• [New] Australia Post's 2030 circularity targets include: A further 30% reduction in waste sent to landfill (from a 2025 baseline). International Post Corporation
• [New] Australia will continue investing in the Boeing MQ-28A Ghost Bat collaborative combat aircraft, which will enhance the lethality and survivability of the crewed fleet through sensing, electronic warfare, strike and missile defence capabilities. Asian Military Review
• [New] Australian GDP growth is expected to be below potential growth over the forecast period. Reserve Bank of Australia
• [New] Losses in Australia in 2026 are projected to reach 4.2 million tonnes, while Canadian production is expected to be down by 3.4 million tonnes. MarketsFarm
• [New] Growing Australia-Japan defence ties are likely a model of how U.S. allies will develop alternative security pacts. ZeroFOX
• [New] The Reserve Bank of Australia is expected to deliver a third consecutive 25 bps cash rate target hike to 4.35%. Brown Brothers Harriman
• [New] Australian businesses are more aware than ever of the challenges and opportunities of new technologies, both in the short term and beyond. KPMG
• [New] Australia is investing heavily in digital infrastructure, yet risks becoming structurally dependent on global technology systems it does not control. TrueNorth Weekday Independent News Update
• [New] The 2026 plan comes paired with an updated Integrated Investment Program, with $425 billion in capability investment through 2035-36 and new funding hikes meant to speed up procurement in a more volatile world. / Australia OkDiario
• [New] Australia plans to invest a record A$ 425 billion (US$ 307 billion) over the next decade to modernise its defence force. Asian Military Review
• [New] Australia will have a world-leading maritime autonomous systems capability, with three unique systems designed and built in Australia. APDR
• [New] The first three vessels will be built in Japan, but production of the next eight frigates will shift to the Henderson shipyard in Perth, Western Australia, where they will be constructed by Australian firm Austal. Islands Business
• [New] The Australian Government is closely monitoring global developments and will adjust settings as required to ensure Australia's migration system remains orderly, fair and sustainable. Ministers for the Department of Home Affairs Website
• [New] IOD (Indian Ocean Dipole): A positive IOD phase developing in tandem with El Nino (forecast for June/July 2026) will amplify drought in Indonesia and Australia. Through my Asian lens
• [New] In Australia, the impending El Nino event and fertilizer shortages will likely drop wheat production even further. MarketsFarm
• [New] Super-K flu became the dominant strain during the northern hemisphere winter, and while influenza activity remained low in Australia, it was expected to rise. SBS News
• [New] The forecast for rail infrastructure investment in Australia indicates a steady increase in allocation from 2024 to 2028, starting at 373.94 USD per inhabitant in 2024 and rising to 432.61 USD per inhabitant by 2028. Reportlinker

Last updated: 15 May 2026