OECD warns Australia over pursuit of surplus
THE dearth of national mining investment should force the Australian Government to ditch its pursuit of a surplus, according to the OECD.
The Organisation for Economic Co-operation and Development's released Economic Outlook in Paris on Wednesday.
It praised much of Australia's financial standing, including a strong monetary policy set by the Reserve Bank of Australia.
But with other industries yet to pick up the slack as sky-high mining investment begins to dwindle, it warns Australia must be prepared to kickstart activity.
Earlier this month, the Federal Government released figures showing more than $150 billion in resource and energy projects had been dumped or indefinitely delayed by industry.
"If activity worsens significantly, the authorities should not hesitate to ease fiscal policy so as to bolster demand," the report stated.