Mosolova Olga

Socio-Economic Development of Australia in 2023 and Forecasts for Future

ЮГО-ВОСТОЧНАЯ АЗИЯ: АКТУАЛЬНЫЕ ПРОБЛЕМЫ РАЗВИТИЯ, 2023, №5(61), 188-196

 
Annotation: The restoration of Australian economy after the pandemic was very quickly. Socio- economic system of the country turned out very stable. In 2023 annual growth rates of Australian economy was 2,1%. The level of unemployment was low. But, negative factor for further development is high level of inflation. According to forecasts, in the very near future the economic activity growth in Australia will be enough reserved. In 2024 annual growth rates of economy in Australia will be 1,4%. However, from the 2025, annual growth rates will be more quickly. The government of the country counts that the productivity of the economy growth is the key for the incomes rising. Also, the important goal of the government is the improvement in the standard of living. Like this, despite the objective difficulties, further prospects of Australian socio- economic development are positive.

Keywords: Australia, socio-economic development, government policy