Aussie economy a world beater: PM
Australia’s economy remains a “world beater” despite a slew of weak economic data and troubling company news, Prime Minister Julia Gillard says.
AUSTRALIA’S economy remains a “world beater” despite a slew of weak economic data and troubling company news, Prime Minister Julia Gillard says.
Ms Gillard on Tuesday brushed off suggestions the latest corporate collapse – Melbourne-based women’s fashion chain Ojay – pointed to a weakening economy.
“Certainly not,” she told reporters in Perth.
“Our economy is a world beater, the envy of the world.
“We’ve got strong growth now, low inflation, low interest rates, low unemployment compared with other nations around the world.”
Financially speaking, there was no nation Australia would want to swap places with, she said.
“We came out of the global financial crisis strong – that’s something we should all be proud of.
“And we are taking the right steps now to ensure our economy is strong for the future.”
Ms Gillard indicated she was not concerned about Fortescue Metals Group’s flagged job losses, saying the mining boom would continue for “some time”, although commodity prices were past their peak.
She provided no hints about the impact of falling iron ore revenues on the federal budget. – AAP