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Australias Economic Excellence

Due to a period of instability the economy has definitely suffered. Most countries are still trying to recover after the crisis that occurred in 2008. Marcio Alaor is an executive at the BMG Bank. He feels what happened in Australia is an isolated case even though economic specialists have given it a lot of prominence.


Current data on the economic activity of the country shows their economy has increased 2.5% in 2015’s third quarter. This shows Australia is going to close out the year as the 25th in a row without any recession.


When Australia’s domestic product shrank back in the 1990’s there was a period of volatility in the world. This started the collapse of several international exchanges. Marcio pointed out that despite this the country still managed to control inflation, create an effective economic system, regulate interest rates and handle the markets instability.


Marcio believes one of the prominent reasons is because Australia is a large exporter of commodities. These are commodities that are widely traded on todays market. This includes aluminum, iron, soybeans and wheat. When the economy of the Chinese accelerated in 2000, Australia took the position of becoming one of their main exporters. This gave the Australian economy a major boost.


When the Chinese economy took a downturn during the international crisis of 2008 it caused Australia to stand out. Despite this they were able to begin the measures required to continue growth in the country. Most economists believe the secret of the Australians was to place their focus on a fiscal stimulus. This made their small businesses exempt from paying taxes during the worst of the times. Investments that were put into the industry of construction was also critical in the generating of new jobs and helped the economic development.


BMG Banks Marcio Alaor says the Australian Minister of Finances played a big part. Wayne Swan generated a lot of notice internationally for a magazine called Euromoney in 2011. This was for the adjustments and measures that were put into effect at the perfect time. The statistical data of the country is still being cited by the executives at BMG Bank. In 2009, while most countries were still being impacted by the recessions effects Australia was not. Not only did Australia show a growth of 1.4% they continued to maintain a yearly growth of over 2%. This proves the Australian economy is incredibly stable. Due to the marvelous performance economically in Australia Mario says they now have one of the world longest life expectations. Their index regarding human development is also excellent. It is the combination of these two facts that put Australia among the first world countries.

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