At a time when universal health coverage struggles under the onslaught of rising costs and budgetary strains around the world, the OECD Ministerial Statement: The Next Generation of Health Reforms of 17 January 2017 offers much needed support to the ideal of equitable access to people-centred healthcare.

Economic growth is projected to pick up to 3% by 2018. The decline in resource-sector investment will tail off and the non-resource sector will be supported by a steady increase in household consumption and investment as wages and employment rise. Further falls in unemployment will help reduce inequality and are not expected to generate strong inflationary pressures. 

Australians are well-known for being a sports-mad people. Some 43% of the adult population attended at least one sporting event in 2009-10 and national pride is often rooted in the latest successes of its national sports teams and international sports stars. Beating the All Blacks in rugby union (a rare event these days) or the English in cricket (a more even match) will significantly lift the national mood. After Australia II won the America’s Cup sailing race in 1983, Prime Minister Bob Hawke famously declared an effective public holiday: “Any boss who sacks a worker for not turning up today is a bum.”

©Stefano Guzzetti/Under licence from Shutterstock

Australia is known as the “lucky country” with its sunny climes, beautiful beaches and relaxed lifestyle. But did you know that it is also a “happy” country, at least according to well-being measures?

Heather Smith, Australian Sherpa to the G20 ©G20 Australia

Each G20 presidency faces its own challenges. A presidency must respond to global economic conditions, it must build on previous work, and it must seize opportunities to progress with reforms where members can reach consensus.

Gabriela Ramos, OECD Chief of Staff and G20 Sherpa ©OECD

The Australian G20 presidency has made a critical and decisive contribution to reinforcing the effectiveness and impact of the Group of 20 (G20). Under Australia’s chairmanship, the work of the G20 has gained in coherence and strength, which should reinforce our joint efforts to boost and sustain future growth. Our organisation is proud to have contributed significantly to these achievements.

© Andre Dobroskoy/ Under license from Shutterstock

Over the past few years we have witnessed some challenging times. When Australia took the reins of the G20 presidency nearly a year ago, the global economy was still recovering from one of the most severe recessions of modern times.

Australia has established itself as a G20 force in Asia-Pacific, and is now embarking on a new wave of engagement in the Asian Century.

Australia’s Deputy Prime Minister Doug Anthony signs the accession agreement to the OECD, with US Secretary of State William P. Rogers and OECD Secretary-General Emile Van Lennep © Sabine Weiss

Australia is not a founding member of the OECD, which was created in 1961. Rather, its decision to seek membership was only taken after ten years of intermittent debate.

The Australian economy has been one of the OECD’s best performing economies, though it now faces some major challenges.

Australia Snapshot 2013

Find key economic figures and trends for Australia from OECD Yearbook 2013

Economic data

GDP growth: +0.6% Q1 2019 year-on-year
Consumer price inflation: 2.3% May 2019 annual
Trade: +0.4% exp, -1.2% imp, Q1 2019
Unemployment: 5.2% July 2019
Last update: 9 September 2019

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