High AUD to help gov't get budget back into surplus: Treasurer
High AUD to help gov't get budget back into surplus: Treasurer
10:56, May 02, 2011 
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Australian Treasurer Wayne Swan on Monday said he believes the strength of the Australian dollar is another reason to get the budget back into surplus in 2012/13 fiscal year.
The Australian dollar continues to go up in leaps and bounds against the U.S. dollars, soaring above 110 U.S. cents on Monday.
Swan, who is preparing to deliver his fourth budget as treasurer on May 10, said the performance of the Australian dollar was a reflection of the strength of the Australian economy relative to other developed economies.
"It also reflects the price that the world is paying for our commodities which, at the moment, is quite high," he told reporters in Canberra on Monday.
However, Swan said he is aware that a high Australian dollar did put pressure on sectors of the Australian economy, such as tourism and the manufacturing industry, particularly those that exported.
He said this is why the government has been focused over the past year of putting in place a resource rent tax, in order to reduce pressures on the small businesses that are doing it tough. It will also enable national savings to build up and allow for investment in infrastructure.
"These are the objectives that the government in the context of the structural change that flow through our economy from having a high dollar," he said.
"That's why, for example, it is pretty important that we come back to surplus in 2012/13."
Source: Xinhua
The Australian dollar continues to go up in leaps and bounds against the U.S. dollars, soaring above 110 U.S. cents on Monday.
Swan, who is preparing to deliver his fourth budget as treasurer on May 10, said the performance of the Australian dollar was a reflection of the strength of the Australian economy relative to other developed economies.
"It also reflects the price that the world is paying for our commodities which, at the moment, is quite high," he told reporters in Canberra on Monday.
However, Swan said he is aware that a high Australian dollar did put pressure on sectors of the Australian economy, such as tourism and the manufacturing industry, particularly those that exported.
He said this is why the government has been focused over the past year of putting in place a resource rent tax, in order to reduce pressures on the small businesses that are doing it tough. It will also enable national savings to build up and allow for investment in infrastructure.
"These are the objectives that the government in the context of the structural change that flow through our economy from having a high dollar," he said.
"That's why, for example, it is pretty important that we come back to surplus in 2012/13."
Source: Xinhua
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（Editor：张心意）
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