Another Positive Report Card For Victoria’s Economy
Victoria’s robust economy today received another healthy report card, with forecast growth of 3.1 per cent for 2017-18 to be bolstered by strong engineering and infrastructure investment, and a growing population, according to the latest Deloitte Access Economics (DAE) release.
The 2017 June quarter Business Outlook report calls out Victoria’s jobs growth as particularly strong and above the national average, reflecting the almost quarter of a million jobs created in Victoria since November 2014.
Lower exchange rates continue to support Victorian farmers, manufacturing and tourism businesses, DAE reports, while low interest rates provide ongoing support to our housing and retail industries.
Backing the Andrews Labor Government’s unprecedented investment in infrastructure, DAE reports that public sector investment in infrastructure, such as the $11 billion Metro Tunnel project and the Level Crossing Removal Program, are buttressing the strong outlook for Victoria’s growth.
The DAE report is published quarterly, analysing prospects across 22 industries and each of the Australian states and territories.
Quotes attributable to Acting Treasurer Gavin Jennings
“This is yet another endorsement of the Andrews Labor Government’s strong infrastructure pipeline and policy settings, that has helped create almost a quarter of a million jobs since we were elected.”
“With major infrastructure projects rolling out like the Metro Tunnel, the removal of level crossings and reviving our regional rail network, we’re investing in what Victorians need now and building a better future.”