Australian Fin Min: Confident Not Headed For Recession
Tanner's comments repeat views expressed by both Prime Minister Kevin Rudd and the Reserve Bank of Australia, and are in line with official growth forecasts that predict the country will avoid negative growth.
"We are up for the challenge. We are investing A$10.4 billion in fiscal stimulus in the immediate term to get jobs and growth going," Tanner told Sky television in an interview.
"We've got the bank guarantees in place, you've got lower interest rates and of course the fall in the Australian dollar, all acting as a powerful stimulus to economic activity. So I believe we can avoid recession," the Finance Minister said.
-By Rachel Pannett and Enda Curran, Dow Jones Newswires;
61-2-8235-2958; enda.curran@dowjones.com
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(END) Dow Jones Newswires
November 11, 2008 17:11 ET (22:11 GMT)
Publié le 11 novembre 2008 Copyright © 2008 Dowjones
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