Government defends forecasts that Australian economy will rapidly grow after mild recession

CANBERRA, Australia — The government on Wednesday defended as conservative forecasts that Australia’s economy will grow rapidly once it emerges from a mild two-year recession.

Australian government plans record debt to fund job-saving infrastructure projects

CANBERRA, Australia — The government plans to shield jobs from the global downturn through wide-ranging infrastructure spending in an economic blueprint released Tuesday that would plunge Australia into record debt.

Treasurer says Australian economy forecast to grow 2.25 percent in fiscal 2010-11

CANBERRA, Australia — Treasurer Wayne Swan says the Australian economy is forecast to shrink half a percentage point in the next fiscal year then rebound to 2.25 percent growth in the following 2010-11 fiscal year.