European Parliament Library

Australia :, Staff Report for 2013 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Australia

This 2013 Article IV consultation highlights Australia’s below-trend GDP growth and the beginning of the decline of the investment phase of the mining boom, which has passed its peak. A key issue now is how Australia can manage the mining-production/export phase and encourage broader-based growth. The main external risks include a slowdown in China over the medium term and surges in global financial market volatility. The pickup in housing market activity, though welcome to date, could pose a future risk if prices accelerate and lead to overshooting. The financial sector is resilient and has strengthened in recent years, although banks’ reliance on offshore funding will continue. The emphasis on tight lending standards and intensive supervision should help limit financial sector risks
Table Of Contents
Cover; CONTENTS; RECENT ECONOMIC DEVELOPMENTS; OUTLOOK AND RISKS; POLICIES TO SUSTAIN GROWTH; BOXES; 1. Medium-Term Fiscal Consistency; FINANCIAL STABILITY AND MACRO-FINANCIAL RISKS; ASSESSING EXTERNAL STABILITY; 2. External Sector Assessment; ROLE OF THE MINING SECTOR AND SHIFT TO BROADER-BASED GROWTH; STAFF APPRAISAL; FIGURES; 1. Growth Weakened; 2. Household Vulnerabilities; 3. Inflationary Pressures Moderate; 4. Monetary Stance; 5. Fiscal Stance; 6. Comparison of Fiscal Outlook; 7. Banking System Developments; 8. Financial Market Indicators; 9. Trade and Balance of Payments
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (80 p.)
Specific Material Designation
Form Of Item

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