The Australian dollar rose strongly between 2006 and 2008 as commodity prices rose, which helped to dissipate pressures that would otherwise have caused the economy to overheat. Conversely, the temporary, but sharp, fall in the exchange rate during the recent financial crisis helped cushion the economy on the downside.
In 2023 - 2024, the economy will recover gradually at a pace of 4% – 5% A decline in security risks from the middle of 2023 assumed by the forecast will be the key factor in the future economic recovery. Moreover, large budget support will boost consumer demand and investment in the reconstruction of the country.