|
|
|
G20 London Summit > Global Action
|
Australia plans $26B stimulus package(Agencies)
Updated: 2009-02-03 21:27 CANBERRA, Australia -- Australia's leader unveiled a new stimulus package Tuesday to try to shield the economy from the global downturn, promising 42 billion Australian dollars ($26 billion) in spending that will send the budget into the red for the first time in nearly a decade.
The package comes on top of one launched late last year worth A$10.4 billion ($7.4 billion) and underscores the threat the downturn poses to Australia's resources-based economy, which has shuddered to a near halt since the worldwide financial turmoil began mid-last year. Two hours after Prime Minister Kevin Rudd's stimulus announcement, the central bank slashed the benchmark cash rate by a full percentage point to 3.25 percent in another bid to reinvigorate the stagnating economy. It was the lowest level since the Reserve Bank of Australia took control of monetary policy 19 years ago, and the lowest money market rate since 1964. The new initiatives, spread over four years, include building thousands of new houses and school rooms, and environmentally friendly measures such as providing householders with free home roof insulation. The spending will plunge the annual budget into a A$22.5 billion ($14.2 billion) deficit, 1.9 percent of gross domestic product, for the current fiscal year ending June 30, the prime minister said. "Nobody likes being in deficit and I don't like being in deficit at all," Rudd told reporters. "This is not a question of choice. This is what we are required to do." Doing nothing would result in even more job losses, Rudd said. He said the plan aimed to support 90,000 jobs, through a combination of creating new positions and saving existing jobs, while boosting economic growth by half a percentage point to 1 percent in the current fiscal year. The plan also aims to turn an economic contraction in the following year to 0.75 percent growth, government documents said. Rudd described the deficit as temporary, despite the Treasury's forecast that it would blow out to A$31.5 billion ($20 billion) in the 2010-11 fiscal year. "This government will never haul up the white flag on the inevitability of recession," he said. "There is no guarantee of success, but we will throw everything at this because we believe it is important for confidence and jobs that we do so." The spending measures need parliament's approval. Supporting legislation will be introduced to the Parliament on Wednesday. The government on Tuesday raised its jobless forecast to 7 percent for the year ending June 30, 2010, from the current rate of 4.5 percent. Last November, the government said it planned a modest surplus of A$5.4 billion ($3.4 billion) for the current fiscal year. On Monday, Rudd said sinking tax revenue from the global slowdown will blow a A$115 billion ($73 billion) hole in the Australian budget. The government had already injected A$36 billion ($23 billion) into the economy since September, including the A$10.4 billion ($7.4 billion) package of cash bonuses in welfare checks, funds for residential mortgage backed securities, car industry assistance plus infrastructure projects. Late last year, the International Monetary Fund predicted Australia would be one of the few developed countries to avoid recession in 2009, but on Saturday it said Australia's economy was likely to contract by 0.2 percent, delivering Australia's first recession since 1991. |
主站蜘蛛池模板： 99在线精品免费视频九九视 | 国产一区二区在线看 | 亚洲线精品一区二区三区 | 欧美专区一区二区三区 | 男人的天堂精品国产一区 | 美女福利视频午夜在线 | 日本高清久久 | 日本aaaa精品免费视频 | 男女那个视频免费 | 成人亚洲国产综合精品91 | 亚洲欧美日韩综合久久久久 | 理论在线看| 99视频国产在线 | 日韩欧美色综合 | 久久一日本道色综合久久 | 国产男女爽爽爽免费视频 | 91亚洲在线| 深爱激情五月网 | 99精品国产高清一区二区三区香蕉 | 一级特黄牲大片免费视频 | 一级特黄特色的免费大片视频 | 久久国产精品最新一区 | 午夜免费一级片 | 欧美一级特黄真人毛片 | 三级毛片在线 | 国产成人免费午夜性视频 | 成人国产精品一区二区网站 | 99久久精品免费国产一区二区三区 | 免费高清欧美一区二区视频 | 亚洲免费网址 | 男人天堂怡红院 | 成人a毛片在线看免费全部播放 | 精品在线一区 | 欧美精品在线视频 | 国产成人综合网亚洲欧美在线 | 亚洲精品专区一区二区三区 | 手机在线看福利 | 精品国产午夜久久久久九九 | 99久久成人国产精品免费 | 亚洲精品一区二区三区四 | 污到下面流水的视频 |
