Swan confident on China s growth
Swan confident on China's growth

Treasurer Wayne Swan is confident the Chinese economy will continue to grow strongly, providing a major plank of support for Australia in a turbulent world economy.

Mr Swan was again trying to soothe investor concerns ahead of what could potentially be another volatile day on global financial markets.

The treasurer noted that some economists have doubted the continued strength of the Chinese economy for some years.

"I believe China will continue to grow strongly ... I am very confident that this region will remain strong," Mr Swan told ABC Television.

"That is another reason why Australia will be strong and continue to be strong in the circumstances that we find ourselves with the turbulence in the global economy, particularly in Europe and particularly in the United States."

Question marks have been raised about the government's ability to meet its promise of bringing the budget back to surplus in 2012/13 given a rocky international economy.

Mr Swan said the government had put a fiscal strategy in place, "and are going to do our very best to implement it".

Asked whether that statement was a "get out" clause, tetchy Mr Swan said that was a "silly game".

"The reality out there at the moment is that there is an uncertain and volatile international economy," he said.

"It is impacting on our economy; it is common sense to make that observation."

Asked whether bringing the budget back to surplus in 2012/13 was a political, rather than an economic necessity, Mr Swan said: "We have got a demonstration of what's happening in the world as to why it matters here."

The West Australian

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