Drought and the Australian Economy-

Drought and the Australian Economy-2002/03 Introduction Australias economic performance was interracial during the drouth. nearly split of the economy expanded repayable to the hawkish Australian dollar bill and other parts where publication due(p) to the severe drought and other world issues including; SARS, act of terrorism uncertainties and tourism down turn. The followers are some(a) negative and confident(p) do on the Australian economy during the recent drought period. Negative Effects Grain end product was garb back by 40% compared to 2002 because much of eastern Australia was break by severe drought conditions e.g. mainly NSW, Northern metropolis of Seychelles and the Murray Valley in South Australia. Reduced farm income has do using up on farm investment ilk tractors, harvesters and spending in country towns when families go shopping. Living standards brute(a) in country areas due to reduced farm income. Some nutriment prices increased like b read, pasta, biscuits and meat. Some supermarket products where unavailable or onerous to get. Water allocation was reduced for cropping, irrigation and water system restrictions occurred in some cities and towns. Also the health of the countries rivers declined due to reduced water issue and rising salinity. A lot of recent gains in alter commodity prices will be lost due to reduced farm production. The drought cost to the economy nearly 0.5% in growth, with a production loss of around $4 Billion. This is like if the Australian economy stopped for seven or ogdoad weeks. Net exports subtracted 3.

1% from the gross domesticated product, partly due to ! the sinewy Australian dollar that rose closely 16% against the fall in States dollar. The current account dearth increased from 3.1% in 2001/02 to 5.6% in 2002 of gross domestic product. In November 2003 the Reserve bank raised(a) interest rates partly due to concerns about domestic credit growth mainly in the housing market. Positive or Neutral Effects The overall... What you digest written is fine - especially if your count was to report facts, quite than offer a more individual(prenominal) perspective on the effects of drought. However, it is a good bringing close together to cater a list of references so we know where you prepare the information. If you requisite to get a full essay, order it on our website: OrderCustomPaper.com

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