Australia: Strong GDP growth in first quarter of 2012 says latest updater report
According to the report 'Country Forecast Australia July 2012 Updater' the Australian government will try to focus on the implementation of policies passed in 2011, such as taxes on carbon emissions and on profits in the energy sector. Real GDP is set to grow by 3.2% a year on average in 2012-16. The budget will remain in deficit in fiscal year 2011/12 (July-June), but the government is expected to achieve its goal of eliminating the fiscal shortfall in 2012/13. The annual rate of inflation is expected to slow in 2012, to 2.7%, as