Australias economy is a tower of strength

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australian economyAustralias economy is a tower of strength after two respected international reports confirmed it continued to lead the developed world.

The first from the  International Monetary Fund added its weight to mounting evidence that Australia was powering ahead of its rivals during the worst downturn since the Great Depression.

It yesterday upgraded its outlook for the Australian economy, tipping it to retreat by only 0.5 per cent this year before growing by 1.5 per cent next year. It earlier forecast a contraction of 1.4 per cent.

The report followed an Organisation for Economic Co-operation and Development report that commended the Government’s stimulus measures.

“We currently, among the major advanced economies, have the fastest growth. We have also the second-lowest unemployment levels and the lowest debt,” Prime Minister Kevin Rudd told Parliament.

All sounds good Kev, but I  guess based on recent news  most folks would just like to get in first!

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11 years ago

Hi Mark and everyone, I’m a new membre of your fruitful website and I’m so satisfy to join it. anyhow I think that its the first gleam of economic reflorescence in Australia after the recession it’s a good news Mark. you mentioned it but I wondered about the last line; “All sounds good Kev, but I guess based on recent news most folks would just like to get in first!” we all are beter to trust the expertism decisions if a man is supposed to be jobless then ruin his life in Australia he is better to stay in his… Read more »

11 years ago

Its a good news I believe its a gleam of reflorescence after the wold recession and I guess the all new migrants to Australia should be happy to hear it whether under processing or not!

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