Macroeconomic Policy, Inflation, Unemployment and Growth

9 Australia’s Balance of Payment Source: agsm.edu.au

Conclusion and Recommendations From the above discussion, it is apparent that Australia has done remarkably well to achieve macroeconomic stability despite the global financial crunch. Sound policies can be accredited for the impressive economic performance. The macroeconomic stability of Australian economy has reduced unemployment rates remarkably. Also, sound monetary and fiscal policies have thrived well to contain and keep inflation at relatively very low rates. The aforementioned economic prosperities have enhanced the living standards of Australian citizens.

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Macroeconomic Policy, Inflation, Unemployment and Growth

Published on Jul 14, 2023

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Australia has advanced a number of regulatory reforms aimed at improving its global economic rating. Key policies are directed towards matters of international trade, liberalization, export/import, and trade regulations. These policies have enabled Australia stay in its economic blue print despite the global economic crunch. These policies that govern operations globally, together with the formulation of sound fiscal and monetary policies have boosted the growth of Australian economy. For example, formulated polices aimed at liberalizing trade by doing away with barriers and creating cordial interstate agreements have seen an increase in trade gains. Australia faces acute challenges as far as its working population is concerned; a good number of its populace is aging.