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Gross domestic product

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Australian debt may grow beyond $300 billion limit


Australia’s debt could breach the government’s legislated $300 billion maximum limit this calendar year as the outlook for Australia’s resource sector deteriorates. Treasury’s senior budget official, Nigel Ray, told the Senate economics committee last week that the debt was expected to rise no further than $290bn in 2013-14, based on the budget forecasts. Although it … Continue reading

Australia warned of double whammy in China’s pending debt crisis


A major Asian investment bank says the seeds of a future financial crisis in China have been sown. Nomura is warning that debt levels in China are teetering at unsustainable levels. Debt in China is believed to be between 150 and 200 per cent of GDP, pushed up by easy monetary policy the government has … Continue reading

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