ANALYSIS: After a year from hell, Australia's economic future is bright
It was an in-house award from The Drum presented at the Christmas party: Patron Saint of Doomsday – for always reminding us that a financial crisis is nigh.Last year saw an escalation of the climate change crisis, a war in Ukraine, soaring inflation, further phases of a global pandemic, the Bank of England rescue Britain from a major financial crisis, and the death of Queen Elizabeth II – to name but a few moments.
At the onset of the pandemic, the government was able to use funds it had collected from taxpayers over the years to support households and businesses, and it did just that.Record low interest rates and booming property and share markets left middle- and upper-income families with unusually high levels of personal wealth.The United Nations hasAustralia is ranked eighth in its Human Development Index, which is a measure of a nation's longevity, education, and income.
Crucially, he had the attentive ears of all major global leaders. Other prime ministers who have gone before him enjoyed similar welcomes.Our natural wealth, developed economy, and stable political system makes us a credible and trustworthy economic and political partner on the world stage.Of course, there are key areas which need addressing.
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