{
  "title": "Australia: Staff Report for the 2002 Article IV Consultation",
  "publication": "IMF Staff Country Reports, September 18, 2002",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/australia-staff-report-for-the-2002-article-iv-consultation-16075",
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  "summary": "This 2002 Article IV Consultation highlights that despite the synchronized slowdown in the rest of the world in 2001, the Australian economy has continued to grow strongly.",
  "sections": [
    {
      "heading": "Growth performance and context",
      "content": "- Despite the synchronized slowdown in the rest of the world in 2001, the Australian economy continued to grow strongly.\n- Real GDP has risen at an average annual rate of 3¾ percent since end-2000.\n- The report highlights uncertainty about the depth and duration of the global slowdown as a key external risk."
    },
    {
      "heading": "Drivers of the 2001–2002 performance",
      "content": "- Absence of major imbalances in the economy.\n- An aggressive easing of monetary policy.\n- Fiscal policy stimulus.\n- A competitive exchange rate."
    },
    {
      "heading": "Inflation and labor market",
      "content": "- Underlying inflation pressures were muted.\n- Monetary policy was highly supportive of growth given muted inflation and external uncertainty.\n- Subject tags include: Budget planning and preparation; Employment; Fiscal policy; Fiscal stance; Income; Labor; National accounts; Personal income."
    },
    {
      "heading": "Keywords and emphasis",
      "content": "- CR, Employment, fiscal policy stimulus, Fiscal stance, Global, Income, income support, ISCR, monetary policy, Personal income, rate, staff appraisal, underlying inflation, unemployment rate, wage cost inflation.\n\nInternational Monetary Fund. \"Australia: Staff Report for the 2002 Article IV Consultation\", September 18, 2002.\n\n---\n\n Content in this bundle\n\n- cr02201\n  - cr02201 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr02201 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 18, 2002",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451801989.002",
    "Despite the synchronized slowdown in the rest of the world in 2001, the Australian economy continued to grow strongly.",
    "Real GDP has risen at an average annual rate of 3¾ percent since end-2000.",
    "The report highlights uncertainty about the depth and duration of the global slowdown as a key external risk.",
    "Absence of major imbalances in the economy.",
    "An aggressive easing of monetary policy.",
    "A competitive exchange rate.",
    "Underlying inflation pressures were muted.",
    "Monetary policy was highly supportive of growth given muted inflation and external uncertainty.",
    "Subject tags include: Budget planning and preparation; Employment; Fiscal policy; Fiscal stance; Income; Labor; National accounts; Personal income.",
    "CR, Employment, fiscal policy stimulus, Fiscal stance, Global, Income, income support, ISCR, monetary policy, Personal income, rate, staff appraisal, underlying inflation, unemployment rate, wage cost inflation.",
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