The nation’s exports tumbled 11.3 percent in April from March, the biggest drop since July 1997, as shipments of coal, iron ore and wheat declined, the statistics bureau reported last month. The Rudd government has distributed A$12 billion (US$9.8 billion) to low- and middle-income households this year and will spend

A$22 billion on roads, railways, ports and schools to cushion the economy against the worst global slowdown since the Great Depression.

“The Australian government has sought to use this stimulus strategy to invest in long-term, productivity-enhancing investments needed in skills and infrastructure for the future,” the prime minister said. He said building an advanced nationwide Internet network was a key step toward improving Australia’s future economic prospects.

Complex or inconsistent business regulation is an impediment to productivity, Rudd said, adding that reform and national harmonization would help drive long-term growth.

A further challenge for policy makers would be creating a “smooth and coordinated global exit strategy” from the “extraordinary” economic policies that have been put in place, Rudd said.

Source: Bloomberg