Westpac chief executive Gail Kelly is upbeat about the Australian economy, believing that while there are still a few issues that have to be worked through, we are seeing an improved economic environment.
In a presentation for the bank’s third quarter update on Friday, Kelly said that improved consumer and business confidence has helped to lift economic conditions, putting Australia in a good position for a recovery.
However she said we are still not out of the woods, with bad debt cycles working their way through the economy.
“We shouldn’t underestimate the size and scale of the shocks we’ve been subject to, and there could be after shocks,” she said.
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