Australia's Deputy Prime Minister and Treasurer Wayne Swan said Sunday that 2013 could be a better year for global recovery if the policymakers around the world take right decisions to promote jobs and growth.
In his weekly economic note, the Treasurer said evidence that China economy is stabilizing is "encouraging." However, still Australia remained cautiously optimistic as some big hurdles needs to be cleared in the global economy, especially in the US and Europe.
Swan said that endless pessimism is in itself a risk to the global recovery, just as it weighs on business and consumer sentiment in Australia's economy. "I'm determined to have a positive debate in Australia in 2013 about how we lock in the gains we've made in the last five years."
In a speech to the Harvard Club on Friday, Swan said it would hurt jobs and growth if we were to cut further as a consequence of a revenue write down which flowed from a higher dollar and lower commodity prices.
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