Statement 2:
Economic Outlook
This statement presents the economic forecasts that underlie the Budget estimates.
The Australian economy slowed significantly in 2009 but outperformed other advanced economies in a year of unprecedented global economic turbulence. Well‑timed monetary and fiscal policy stimulus in Australia ensured a relatively shallow domestic downturn and private sector activity is now gathering momentum. While the global economic recovery is expected to be uneven, the outlook for the Australian economy is increasingly positive with strong prospects for the Asian region expected to support a rising terms of trade and a rebound in business investment. The Government's fiscal stimulus is being phased out. Policy continues to be directed toward supporting an expansion of the economy's productive capacity, which will facilitate the recovery in private sector investment.
If www.budget.gov.au responds slowly or you are having trouble downloading a document, try one of the Budget Website Mirrors
Note: Where possible, Budget documents are available in HTML and for downloading in Portable Document Format(PDF). If you require further information on any of the tables or charts on this website, please contact The Treasury.
