This article was originally published on News.au.
It is a time for hope, as Australia and New Zealand continue to work to address a severe crisis in the global financial system.
But even as the economy has shown some recovery, the risks for the global economy remain, and it is worth looking at what is at stake.
Key points:Australia’s Federal Government has announced the introduction of the INDI futures market, which will enable investors to trade shares and bonds at an affordable rate in exchange for a percentage of a future payoutSource: News.AAPIt is not only the global markets that are in a state of turmoil, with China and Japan both already struggling to cope with a crisis in their economies.
While the crisis has been largely contained, the global economic system remains in the midst of a massive shift from growth to stagnation.
With the Australian dollar plummeting and the value of the Australian pound plummeting, the Australian economy has been hit hard.
The Australian dollar has dropped to as low as $1.12 per Australian dollar on Monday, while the Australian currency is down by more than 50% against the US dollar over the past year.
“It is important for Australians to understand the magnitude of the crisis, but the global outlook is grim,” Andrew Robb, the Federal Treasurer, said in a statement on Tuesday.
“We are still on track to reach full employment and growth this year and we are well on the way to that goal.”
The Commonwealth has an important role to play in helping Australians to recover from the current economic crisis, and we will continue to do so, with the aim of returning to growth and recovery in the medium term.
“This year, the Commonwealth is due to spend about $7.5 billion in stimulus to help rebuild the economy, with about $5.5bn earmarked for infrastructure, $1bn for the National Disability Insurance Scheme, and $3bn for education.
In the US, the markets have been particularly volatile, with many stocks and bonds falling in value.
Investors in the Australian stock market have had to bear the brunt of the sell-off, with investors buying shares at inflated prices and selling them back.”
It is still unclear exactly how much money the Australian Government is spending on its stimulus programs, but it is expected to provide $1 billion a month in financial assistance to small businesses.”
There is no doubt there is a real risk of further market declines in coming weeks.”
It is still unclear exactly how much money the Australian Government is spending on its stimulus programs, but it is expected to provide $1 billion a month in financial assistance to small businesses.
While Australia’s Federal Treasurer said the Government would continue to spend on small business assistance, the Government’s plan to provide financial assistance through the Commonwealth’s Commonwealth-funded unemployment benefits scheme has come under fire from the Opposition.
The plan has come into conflict with the Government plans to give the unemployed the equivalent of $400 a week in support to support them for up to six months.
Topics:business-economics-and-finance,government-and-(parties-in-government)indicator-markets,market-and_monetary-policy,industry,finance-and/or-fraud,wealth-institute-of-technology,economy-and.technology,government—state-issues,australiaFirst posted November 05, 2018 07:46:16Contact David DicksonMore stories from New South Wales