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Australia ‘hit by commodity price drops’

Posted on 18 March 2013

Australian Treasurer Wayne Swan on Sunday warned of a “dramatic” hit to the government’s bottom line due to commodity price falls, steeling consumers for an austere budget in an election year.
Mr Swan said the government’s revenue had taken a “massive hit” from a plunge in its terms of trade — the value of exports measured against imports — with prices for its key mining products down but the Australian dollar remaining high………………………………………..Full Article: Source


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