Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Australia's economic position enviable: IMF

Staff Reporter 1 minute read

Treasurer Wayne Swan has confirmed the economic crisis will send the federal budget into deficit however the International Monetary Fund (IMF) has endorsed a budget deficit and expressed its confidence in Australia’s ability to endure the year ahead.

Ray Brooks, IMF head of Asia-Pacific, told The Australian Financial Review today that Australia’s strong track record of prudent fiscal policy positioned it strongly to weather the looming economic challenges.

“Australia is in an enviable position on the debt front,” he said. “There are not many countries in a similar position. The responsible fiscal policy over the last 10 or 15 years has left Australia in a very strong position to react.”

The federal government is expected to announce a second stimulus package as soon as today to rejuvenate the weakening economy.

COMMENT HERE

Australia's economic position enviable: IMF
default
TheAdviser logo
default

 

more from the adviser
ASIC TA ASIC to update ACL process following security breach

The financial services regulator is working on “alternative arr...

money au ta Lenders extend cashback offers

Several lenders and their subsidiaries have extended their cashba...

ren wong N1 pivots to become SME lender

Diversified broking and non-bank lending group N1 Holdings has an...

FROM THE WEB