Drought and the Australian Economy-

Drought and the Australian Economy-2002/03 Introduction Australias economic performance was heterogeneous during the drouth. whatever split of the economy expanded collectible to the competitive Australian dollar bill and other parts where final result referable to the severe drouth and other world issues including; SARS, terrorist act uncertainties and tourism down turn. The followers are some(a) negative and confident(p) cause 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 experience by severe drought conditions e.g. mainly NSW, Northern swell of Seychelles and the Murray Valley in South Australia. Reduced farm income has complete using up on farm investment like tractors, harvesters and spending in country towns when families go shopping. Living standards drop in country areas due to reduced farm income. Some nutriment prices i ncreased like bread, pasta, biscuits and meat. Some supermarket products where unavailable or onerous to get. Water allocation was reduced for cropping, irrigation and urine 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 just more or less 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 pro! duct, partially due to the sinewy Australian dollar that rose about 16% against the fall in States dollar. The current account famine 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 earn written is fine - especially if your count was to report facts, rather than offer a more individual(prenominal) perspective on the effects of drought. However, it is a good bringing close together to can a list of references so we know where you prepare the information. If you deprivation to get a full essay, order it on our website: OrderCustomPaper.com

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