Australia : Staff Report for 2013 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Australia.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Asia and Pacific Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2014/051

IMF Staff Country Reports

Language:

English

Subjects (All):

Economic development--Australia.

Economic development.

Economic indicators--Australia.

Economic indicators.

Australia--Economic policy.

Australia.

Physical Description:

1 online resource (80 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2014.

Language Note:

English

Summary:

This 2013 Article IV consultation highlights Australia’s below-trend GDP growth and the beginning of the decline of the investment phase of the mining boom, which has passed its peak. A key issue now is how Australia can manage the mining-production/export phase and encourage broader-based growth. The main external risks include a slowdown in China over the medium term and surges in global financial market volatility. The pickup in housing market activity, though welcome to date, could pose a future risk if prices accelerate and lead to overshooting. The financial sector is resilient and has strengthened in recent years, although banks’ reliance on offshore funding will continue. The emphasis on tight lending standards and intensive supervision should help limit financial sector risks.

Contents:

Cover; CONTENTS; RECENT ECONOMIC DEVELOPMENTS; OUTLOOK AND RISKS; POLICIES TO SUSTAIN GROWTH; BOXES; 1. Medium-Term Fiscal Consistency; FINANCIAL STABILITY AND MACRO-FINANCIAL RISKS; ASSESSING EXTERNAL STABILITY; 2. External Sector Assessment; ROLE OF THE MINING SECTOR AND SHIFT TO BROADER-BASED GROWTH; STAFF APPRAISAL; FIGURES; 1. Growth Weakened; 2. Household Vulnerabilities; 3. Inflationary Pressures Moderate; 4. Monetary Stance; 5. Fiscal Stance; 6. Comparison of Fiscal Outlook; 7. Banking System Developments; 8. Financial Market Indicators; 9. Trade and Balance of Payments

10. External Vulnerability11. Interconnection and Spillovers; TABLES; 1. Selected Economic Indicators, 2010-2014; 2. Medium-Term Scenario, 2010-2018; 3. Fiscal Accounts, 2010/11-2018/19; 4. Balance of Payments in U.S. Dollars, 2010-2018; 5. Balance of Payments, 2010-2018; 6. Gross External Debt, 2008-2013; 7. Indicators of External and Financial Vulnerability, 2008-2012; 8. Selected Financial Soundness Indicators, 2007-2013; ANNEXES; 1. Risk Assessment Matrix; 2. Housing Market; 3. External Sector Developments and Prospects; 4. Managing the Transition from the Mining Investment Boom

5. Public and External Debt Sustainability Analysis6. Main Recommendations of the 2012 Article IV Consultation; CONTENTS; FUND RELATIONS; STATISTICAL ISSUES

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF cover (ebrary, viewed March 19, 2014).

ISBN:

9781475596847

1475596847

9781475528657

1475528655

9781475556827

1475556829