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Word Count: 973
The causes of current account deficit Australias CAD will be one of the entering years biggest economic stories in the media at the end of the financial year 1998-1999 There is a likelihood the deficit will increase to an amount to per 6 percent of gross domestic products In Australia for the last two centuries the balance has almost been deficit the past twenty yeas the level of the deficit has increased notably In 1970s the current account gap has concerning 25 percent GDP Australia has usually run a current account s deficits as investment opportunity have exceed domestic saving the budget paper say the deficit has also been quite explosive periodic inflorescences on sawing and inaugurations Eg changes income stemming from the dangle habits has been maintained investment cycled have also been a key diver of short-term instability in the CAD Australians needs to spend more on investment and all Australians save is the cause of the current account deficit The investment projects have created jobs increased living standard for all Australians and have helped generate the income necessary to make payment in the imported foreign capital the current account is not just about trade its also we must lift our national saving performance if are to reduce the current account deficit The current account deficit stood at 3487 million in the June quarter down from 4291 million in the March quarter As a proportion of GDP the current account deficit stood at 2 of GDP in the June quarter the best result in just over 21 years March quarter 1980 However when we borrowing from other countries we have to pay interest rates and these are additions to the original dent therefore they increase the debt owed It is considered a bad thing to have and increasing current account deficit because we are borrowing from them and then repaying them even more Due to a foreign economy Housing and construction Large swing
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