Territory Stories

Budget Paper 1994-95 No.6 Northern Territory Economy

Details:

Title

Budget Paper 1994-95 No.6 Northern Territory Economy

Other title

Tabled Paper 2156

Collection

Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT

Date

1994-05-12

Description

Tabled by Barry Coulter

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2021C00044

Parent handle

https://hdl.handle.net/10070/292876

Citation address

https://hdl.handle.net/10070/398240

Page content

The Reserve Bank of Australia report that principal cost based inflation pressures are derived from import prices due to the depreciation o f the Australian dollar over the past two years. However, the recession together with an increasingly open and competitive economy were influential in preventing these costs being passed on in full. Commonwealth Treasury forecast the national inflation rate will rise to 2.5% in 1994/95, and 3% in 1995/96. Factors supporting these modest inflation rates include relatively high unemployment keeping wage increases in check, enhanced efficiency, flexibility and competition in key sectors flowing from micro-economic reforms, progressive adoption o f productivity based wage agreements, and a possible strengthening o f the Australian dollar in line with improving international commodity prices. Inflation outcomes for the Territory will be determined largely at the national level. However, in line with recent experience and the continued strength o f the Territory economy, it can be anticipated that the Territory inflation rate will continue to run marginally ahead o f the national rate. _________________________________________________________________Prices and Wages 2 5


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