Australian Prime Minister Won't Rule Out New Levy
A mining boom fueled by Chinese industrial demand for iron ore and coal helped Australia avoid a recession during the global financial crisis. But the boom has passed and the economy is slowing along with the weakening resource sector.
The government's latest economic forecast shows Australia's deteriorating economic performance will translate into a deficit of AU$68.1 billion in the current fiscal year a¿¿ about AU$16.8 billion worse than was forecast when the budget was announced in May last year.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts