Monday, Australian Treasurer Wayne Swan said it will be virtually impossible for the country to avoid a period of negative growth.
Swan's remarks resembled Prime Minister Kevin Rudd's warning of a local recession amid global economic downturn.
Speaking at the Sydney Institute, Swan described the global recession as a tide that is continuously building in its intensity and ferocity. He stated that the budget, to be presented in May, would focus on preparing the economy for a recovery by increasing spending on infrastructure and education.
He noted that global recession has reduced demand for Australia's exports. Swan said stimulating the economy is a challenge for authorities.
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