IMF Staff Country Reports

Australia: Staff Report for the 2003 Article IV Consultation

Publication Date:

October 29, 2003

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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.

Series:

Country Report No. 2003/337

Subject:

Consumption Housing Housing prices Income National accounts Personal income tax Prices Taxes