‘finance’

Economic growth in Australia in the third quarter

  

Australia's economic growth slowed in the third quarter, that according to the experts, due to a significant strengthening of the Australian dollar against the major currencies.Gross domestic product (GDP) Australia in the period from July to September grew by only 0,2%.

In the second quarter, the figure was 1,1%. Sydney hopes, that the growing demand for Australian companies in the world will help accelerate the growth of GDP in the fourth quarter.

  

  


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Public finance of Australia

In Australia 1966 adopted a decimal monetary system. Australian dollar issued by the Reserve Bank of Australia, which regulates the rates, oversees the financial system.

In recent years, regulation of the banking sector is gradually weakened. For example, with 1983 foreign banks were allowed to conduct operations in Australia, and gradually reduced or erased the fundamental differences between different types of banks and between banks and other financial institutions, such as life insurance companies, construction companies and pension funds.

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