IMF Staff Country Reports

Australia: Staff Report for the 2002 Article IV Consultation

Publication Date:

September 18, 2002

Electronic Access:

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Summary:

This 2002 Article IV Consultation highlights that despite the synchronized slowdown in the rest of the world in 2001, the Australian economy has continued to grow strongly. This performance reflected the absence of major imbalances in the economy, an aggressive easing of monetary policy, fiscal policy stimulus, and a competitive exchange rate. Real GDP has risen at an average annual rate of 3¾ percent since end-2000. With underlying inflation pressures muted and the uncertainty about the depth and duration of the global slowdown, monetary policy was highly supportive of growth.

Series:

Country Report No. 2002/201

Subject:

Budget planning and preparation Employment Fiscal policy Fiscal stance Income Labor National accounts Personal income