A report, the mining boom in Australia is still the main driving force is to promote the country's economic growth forecast by the economic outlook released by the Australian Institute of Deloitte Economics 23.
Richardson, director of Deloitte Research Institute, said the next two to three years after demand for minerals will be reduced, and Australia should not continue to increase investment in the development of mineral projects. He predicted that with the reduction in mining production costs rise and profits, after 2014 mainly in the mining industry in Western Australia, Northern Territory and Queensland will be affected to some extent.
The report forecast to show the prosperity of the Australian mining industry is nearing the peak, growth is slowing down has become an inevitable trend, "two-speed economy" status in recent years to dilute.
But the report also considers that the current mining boom in Australia to help its economy has maintained a strong momentum of development. In addition, the states quarterly assessment report from the Commonwealth Bank Securities, the mining industry developed in Western Australia most of the economic indicators are ahead of other states, Western Australia is Australia's economic performance in the best areas.
The report also said that the Economic Development of Australia has 21 years there have been a recession.
At present, Australia's economic growth is strong, the unemployment rate at a low level, the investment prospects, the impact of the government mining development trends have been included in the budget, the economic fundamentals are strong. Australian Prime Minister Gillard said the Labour government can continue to achieve a budget surplus in 2012/13 fiscal year plan.
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