Australia Now

Australia and the World

What is the current situation of our economy? Yes we tend to be fearful even after being almost untouched by the downturn worldwide. Our economy is doing quite well at the moment. The growth rate is around 3 percent better than the much publicized UK economic growth. Yes folks we are growing at a rate better than whole of Europe and America.

It is not just one sector which is pushing us forward. Proper reforms by our government have done wonders with each sector. Even the manufacturing sector is growing albeit a bit slower than the rest. We are on the other part of the world and Greek crisis or the Russian fall down does not affect us much. Do not think it does not matter. Well Greece is too small to matter but economic problems in Russia will spill over to the rest of the world. We are getting affected but being physically away from unrest helps in a way. The Syrian war or the ISIS threat is real for the world, but it only has a far effect on Australia. We are physically protected by sea all around.

The bright side is that inflation is falling and the current Iran US agreement will keep the oil prices down. The wages are up and the economy is going up. Our cricket team is losing to England but our economy is much ahead. Just have faith in the robust system created over the years.