The strong growth of Australian exports and the fall in world interest rates are largely responsible for this favourable development. In the 1980s, when the sharp rises in foreign debt and its servicing costs were occurring, the Australian economic debate was, not surprisingly, pre-occupied with these issues.
Fortunately, it is propitious that the workshop is held in the same week that the first Budget Speech of the 12th Parliament was delivered by the Honourable Minister of Finance and Economic Development; thus an opportunity to examine prospective initiatives coming from this workshop alongside the most recent policy pronouncements by the Government.