Chinese demand for raw materials such as iron ore and coal helped keep Australia out of recession during the global economic crisis. But the mining boom is expected to peak this calendar year and businesses outside the resource sector are not growing fast enough to make up for the miners' expected retreat.The government introduced a 30 percent tax on iron ore and coal miners' profits above a set threshold in the current fiscal year which was supposed to raise AU$3 billion in its first year.
Australia Gov't Forecasts $19.4 Billion Deficit
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