The relative stability of Australian finance investing has been reaffirmed, following the International Monetary Fund's (IMF) upgraded economic forecast.
In the latest World Economic Outlook, the IMF predicts that Australia's economy will grow by 2.5 per cent in 2010.
This will be followed by improved growth the following year, when the economy is expected to increase by three per cent.
Commenting on the decision, Australian treasurer Wayne Swan said: "This is considerably stronger than the recovery forecast for other advanced economies, which are expected to grow by 2.1 per cent in 2010 and 2.4 per cent in 2011."
He added that the forecast "provides more evidence that Australia has outperformed the developed world during the global recession".
Earlier this month, the Australian Financial Centre Forum's financial centre report suggested that Australia has the most efficient and competitive financial sector in the Asia-Pacific region.
The head of financial services at the Australian Commission Gary Johnston suggested that this has helped sustain the sector throughout the economic crisis.
In the latest World Economic Outlook, the IMF predicts that Australia's economy will grow by 2.5 per cent in 2010.
This will be followed by improved growth the following year, when the economy is expected to increase by three per cent.
Commenting on the decision, Australian treasurer Wayne Swan said: "This is considerably stronger than the recovery forecast for other advanced economies, which are expected to grow by 2.1 per cent in 2010 and 2.4 per cent in 2011."
He added that the forecast "provides more evidence that Australia has outperformed the developed world during the global recession".
Earlier this month, the Australian Financial Centre Forum's financial centre report suggested that Australia has the most efficient and competitive financial sector in the Asia-Pacific region.
The head of financial services at the Australian Commission Gary Johnston suggested that this has helped sustain the sector throughout the economic crisis.
