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Australias economy is a tower of strength

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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Written by Mark

As the founder of Getting Down Under, Mark is passionate about demystifying the process associated with a move to Australia. Having launched Getting Down Under in early January 2006 and made the move to Australia from the UK in the same year, Mark continues to share resources and support for those looking for assistance. If you have a question for Mark, please post in our Community Forums. Please note All information provided on Getting Down Under should be considered in conjunction with our disclaimer. Please seek professional advice if you have any doubts!

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