Finance Minister Mathias Cormann has rejected the suggestion the Australian economy could be in recession and won't be pursuing stimulus spending in the upcoming mid-year budget review.
Figures last week showed the economy went backwards in the September quarter for the first time since March 2011, but Senator Cormann is not anticipating the fourth quarter national accounts will show a consecutive negative result which would constitute a technical recession.
"I completely reject your proposition that we are in a recession right now, that is just false," he said in response to a question on Sky News on Sunday.
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