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Australia: Staff Report for the 2003 Article IV Consultation

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  • International Monetary Fund

Abstract

Australia's economy has continued to perform remarkably well, despite encountering major adverse shocks. Fiscal policy, with an objective of maintaining a balanced budget, will help support the economy. Maintaining a sound and stable macroeconomic environment is essential. Reforms of the personal income tax system are critical elements. A comprehensive reform of the complex system of income support payments would provide stronger incentives for labor force participation. Maintenance of competitive product markets will contribute to faster innovation and productivity and income growth. The financial system is sound.

Suggested Citation

  • International Monetary Fund, 2003. "Australia: Staff Report for the 2003 Article IV Consultation," IMF Staff Country Reports 2003/337, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2003/337
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=16973
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    Cited by:

    1. Chamon, Marcos, 2007. "Can debt crises be self-fulfilling?," Journal of Development Economics, Elsevier, vol. 82(1), pages 234-244, January.
    2. Alison Pargeter, 2006. "Libya: Reforming the impossible?," Review of African Political Economy, Taylor & Francis Journals, vol. 33(108), pages 219-235, June.
    3. World Bank, 2005. "Angola : Public Expenditure Management and Financial Accountability," World Bank Publications - Reports 8514, The World Bank Group.

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