Australia’s economy had already stood out from other rich countries’ by surviving the global downturn without recession. As Wayne Swan, the treasurer, presented the budget for 2010-11 on May 11th, it seemed even more robust. A deficit of almost A$41 billion ($37 billion) is projected to become a surplus in 2012-13, three years earlier than first forecast. And the debt the government piled up to keep Australia afloat through the slump is also due to be paid off three years ahead of schedule, after peaking at 6.1% of GDP, a fraction of the percentage in the big rich countries in the G7.
http://www.economist.com/world/asia/displayStory.cfm?story_id=16112050&source=hptextfeature
