IMF upgrades forecast for Australia’s economic growth 27 January 2010 The International Monetary Fund (IMF) has upgraded its forecast for Australia’s economic growth. In its latest World Economic Outlook, the IMF forecasts that Australia’s economy will grow by 2.5 per cent in 2010 and 3 per cent in 2011. The Australian Treasurer Wayne Swan said “this is considerably stronger than the recovery forecast for other advanced economies, which are expected to grow by 2.1 per cent in 2010 and 2.4 per cent in 2011.” Australia was the only advanced economy to record positive growth in 2009. Mr Swan said that the IMF’s forecast “provides more evidence that Australia has outperformed the developed world during the global recession.” More information |