Australia : Selected Issues

Australia's large external deficits appear sustainable. There are, however, risks associated with the resulting external debt that need continued careful management. These deficits, which largely reflect high investment rather than low saving, should be sustainable as long as the Australian economy, especially its exports, grow strongly. The associated accumulation of foreign liabilities nonetheless leaves the country exposed to shocks, but these risks appear to be well managed. Australia's fiscal policy appears to be broadly consistent with guidelines for fiscal management in the face of commodity price swings.
Publication date: October 2006
ISBN: 9781451802108
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , International - Economics , current account , current account deficit , external debt , reserve bank

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