Australia outperforms other advanced economies 25 November 2009 The just-released OECD Economic Outlook provides further evidence that Australia is outperforming the world’s other advanced economies. Australia has stronger growth, lower debts and lower deficits, and is one of only three countries forecast to grow this year. The OECD forecasts that Australia will grow by 0.8 per cent in 2009 and 2.4 per cent in 2010. At such figures, the Australian economy would still be operating at substantially below capacity. In comparison, the OECD forecasts that other member economies will drop 3.5 per cent this year and only grow 1.9 per cent next year. The Australian Treasurer, Wayne Swan, said that the OECD report also confirms that Australian Government finances “remain amongst the strongest in the OECD.” More information |