Australia Economy and Politics
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If you are looking for information on the Australia economy and politics, AsiaRooms can offer you all the details. So as you prepare to travel to Australia, you can certainly rely on us to provide you all the necessary information on Australia.
The economy of Australia can at best be called a mixed economy, styled on the West. In fact, Australia is a prosperous economy with a GDP that is a little higher than countries like the UK, Germany and France when it comes to purchasing power. Moreover, the country was also given the third position in 2005 UN Human Development Index survey. It is indeed admirable that in spite of the global economic slump, Australia has put up a resilient front and has been able to ward off the effects of the global slump due to the rising output in the domestic economy. However, many are concerned about the high current account deficit and net foreign debt owed by the private sector of Australia.
The Australian economy has not been through a recession since the 1990's. According to a survey in July 2006, the unemployment rate in Australia was 4.8%. The service sector, which includes tourism and education makes up 69% of the GDP while Agriculture makes up 3% of the GDP and natural resources comprises 5% of the GDP of Australia.
Speaking of the politics in Australia, it is a constitutional monarchy that has a parliamentary system of governance with Queen Elizabeth II as the Queen of Australia. She is represented by the Governor General at the Federal level, while at the state level, the queen is represented by her Governors.
The system of governance in Australia is divided into three braches – the legislature, the executive and the judiciary.
Speaking of the political parties in Australia, three of them are always at the forefront, namely the Labor Party, the Liberal Party and the National Party. Other minor parties are the Greens and Australian Democrats.
Voting in Australia is mandatory for all listed citizens over the age of 18 at the federal level.
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