The main opposition Labor Party holds a commanding lead in the opinion polls ahead of the general election, which is expected in November 2007. The prime minister, John Howard, has been criticised on a range of issues by the Labor leader, Kevin Rudd. Mr Rudd is articulating well the concerns of voters, something that his predecessors failed to do, and is also the beneficiary of growing popular disillusionment with the government. Strong domestic demand has created inflationary pressures in Australia's economy, and interest rates are therefore likely to remain high over the forecast period. Annual GDP growth is forecast to slow to an average of 3.1% in 2008-09. The current-account deficit will remain large, at an average of 5.9% of GDP in 2008-09. |
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| Key Reports Available for Australia |
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| Land area | | 7,682,400 sq km (61% agricultural, 5% forest) | | Population | | 21,017,200 (June 2007) | | Main towns | | Population in '000 (June 2006): | | Sydney: 4,284 | | Melbourne: 3,471 | | Brisbane: 1,629 | | Perth: 1,393 | | Adelaide: 1,108 | | Canberra (capital): 319 | | Climate | | Temperate in the south; subtropical or tropical in the north; hot and dry inland | | Weather in Canberra (altitude 560 metres) | | Hottest months, January and February, 13-28°C; coldest month, July, 0-11°C (average daily minimum and maximum); driest month, June, 37 mm average rainfall; wettest month, October, 69 mm average rainfall | | Language | | English | | Measures | | Metric system | | Currency | | Australian dollar=100 cents. Average exchange rate in 2007: A$1.192:US$1; exchange rate on January 31st 2008: A$1.115:US$1 | | Time | | Hours ahead of GMT (summer time in brackets): | | New South Wales, Tasmania, Victoria & the Australian Capital Territory: 10 (11) | | Queensland: 10 | | Northern Territory: 9.5 | | South Australia: 9.5 (10.5) | | Western Australia: 8 | | Fiscal year | | July 1st-June 30th. Most Australian statistics are reported on a fiscal-year basis | | Public holidays | | January 1st (New Year's Day); January 26th (Australia Day); March 21st-24th 2008 (Easter), April 25th (Anzac Day); second Monday in June (June 9th 2008, the Queen's Birthday, except Western Australia); December 25th (Christmas Day); December 26th (Boxing Day, Proclamation Day in South Australia) |
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