For International

Australia to outperform the world’s major economies

19 Apr 2012

Australia is expected to lead the world’s major advanced economies over the next two years, according to data released this week by the International Monetary Fund (IMF).

The IMF’s latest World Economic Outlook (WEO) confirms Australia’s strength in the global economy, predicting Australian economic growth of 3.0 and 3.5 per cent in 2012 and 2013, respectively.

Forecasting up to 3.5 per cent growth in the global economy this year, the IMF points to recent signs of stabilisation led by increased activity in the United States; better economic management policy in Europe; and solid growth in Asia.

Australia’s Treasurer, Wayne Swan, said the WEO is consistent with the Government’s own Mid-Year Economic and Fiscal Outlook.

“With solid growth, low unemployment, contained inflation, strong public finances and a record pipeline of business investment, the Australian economy is the standout performer of the developed world,” Mr Swan said.

“Delivering on the Government's fiscal strategy sends a clear message about our strong economy and is our best defense in a changing global environment.”

Download Austrade Data Alert: Australia’s Economic Fundamentals Remain Strong (PDF)