Last April 18, 2012, International Monetary Fund officials in Washington (IMF) announced that “Australia has the strongest economy in the developed world and it expected to outperform all comers for at least the next two years.” The financial stability of Australia is gradually improving. IMF forecasts with the global economy expected to grow by 3.5 in 2012 and Australia’s unemployment rate remained low at 5.2%.
According to Treasurer, Wayne Swan, “With solid growth, low unemployment, contained inflation, strong public finances and a record pipeline of business investment, the Australia Economy is the standout performer of the developed world. Cutting Interest Rates really helps in budget surplus of the country, Cutting rates, solid growth and low unemployment are the factors of a strong economic fundamentals of a country. Therefore, IMF’s confirmed Australia leads the world because of strong economic fundamentals and Australia Economy is the standout performer because of these factors.