The OECD’s latest Economic Outlook has revealed that Australia is outperforming every other advanced economy, with lower debt and lower deficits that any other country.
The report confirms that the Rudd Government’s stimulus measures are working to support jobs, strengthen the economy and cushion Australia from the worst impacts of the global recession. In particular, the OECD has pointed to a strong infrastructure plan noting that the “infrastructure development programme announced in the 2009-10 Budget is welcome and should strengthen fiscal policy impact.”
However, the OECD has noted that we will not be immune from the impacts of the global recession, with unemployment tipped to rise.
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