That the determinants of growth are complex is illustrated by Australia, the UK and Sweden lowering their levels of inflation without much difference in growth, and US and Canada having lower growth in the low inflation period.
In such an environment, it is imperative not only to maintain macroeconomic stability, but also to take further steps to improve the business environment so that more non-mining businesses can be attracted and can ultimately flourish. Up to this point, the country has emerged from the economic recession in not-so-bad a shape, and its sovereign credit ratings are so far largely unchanged.