Australia best placed for migration
October 15 2008 by Bryan Palmer
At a time when most of the developed world is experiencing a reversal in economic efficiency, Australian Federal Treasurer Wayne Swan has asserted his economy will withstand the global financial crisis.
A report released by the Organisation for Economic Co-Operative Development (OECD) in Europe this week described the Australian economy as standing up well to the ongoing global financial market turbulence thanks to prudent management, high profitability and strong capitalisation.
Speaking at the Brookings Institute in Washington DC, Mr Swan spoke of Australia having one of the strongest financial sectors in the world, with the fourth biggest financial sector by funds under management, and the government is predicting a budget surplus of two per cent of its GDP.
In a joint conference with the Treasury, the Prime Minister Kevin Rudd also said, “Here in Australia, we have strong financial institutions; we have a strong Budget surplus when many Governments around the world are in deficit. And we also continue to generate positive economic growth when most major economies in the world are generating negative economic growth.”
Mr Rudd also said Australian immigration targets will be adjusted according to the economic circumstances of the day.
The 2008-09 Australian Visa Program is set at 190,300 places, representing a 19.8 per cent increase on the 2007-08 program. The figure includes 56,500 places for family migrants sponsored by people already in Australia and 133,500 places for those with special skills.
See the latest Immigration News
