Still Largely Positive News from IMF Report on Australia

People are rarely exposed to good news stories. This can build the wrong picture for people deciding whether or not to invest in business in Australia. In fact, Australia remains a great place to invest, as shown in the latest IMF report into Australia’s economy. The report acknowledges concerns over high household debt and low housing affordability, but stated “The housing market correction should be mild and short-lived,” in the context of a strong economy. The report summarises that “Australia experienced only a minor downturn after the end of the mining investment and commodity price boom…” As to the outlook the report concludes; “Above-trend growth is expected to continue in the near term, although the momentum should moderate…” The report recommended an increase in infrastructure investment, to help raise productivity and support longer term growth, and recommended tax reform, promotion of innovation and competition, and energy reform. All of these things are currently supported by initiatives proposed by the government and opposition.  Australia is a stable and supportive environment to run a business.

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