Melbourne’s packed-in crunch is now over.
The state’s economy is growing.
The city is no longer the economic and financial hub of the state, but it’s still a city that has a way to go before the state is a global financial capital.
Melbourne is the biggest city in Australia and a place where people spend time and money.
The world is looking to the city for a future as a global capital.
The Commonwealth Bank of Australia says Melbourne’s economy grew by 6 per cent last year and it’s predicted that this year it will grow by 7 per cent.
But what makes Melbourne’s growth so exciting is that the state’s biggest employers are the state government and private sector.
The state government says that the new economy will boost the state budget by $300 million over the next five years.
It’s a good thing.
The economy has been strong, but the state hasn’t always had that.
It’s good to see that it’s getting back on track and it should help the economy when the state and the state council decide what’s going to happen in the coming years, said state treasurer Andrew Barr.
He said Melbourne is a very competitive city, with a strong labour market and a well-educated workforce.
“It’s not going to be a very large state and yet it’s got the largest city in the country and it is a world-class city,” he said.
“We have the largest university in the world and the biggest employers in the nation.”
The state’s growth has not always been good.
The city’s growth was weak in the 1990s and then picked up a bit, but its growth rate fell to just 2.7 per cent in 2015.
In 2010, the state lost $500 million in federal funding to the Victorian Government, and in 2014 the state was forced to declare bankruptcy.
But Barr said Melbourne’s success has been due in large part to its people.
He says the growth has been driven by people who have been able to move to Melbourne from faraway places like Sydney and Perth, or move from the suburbs and settle into the city.
“The city has been very welcoming to a lot of people and that has been a positive factor in our economic growth,” he told ABC Radio Melbourne.
“I think Melbourne is one of the only cities in the region where people can move from place to place, from place and it allows people to do that without having to go through the process of finding a job.”
If you’re looking for work in the city, you can do that in Melbourne and there’s a lot more opportunities.
Topics:business-economics-and-finance,business-news,industry,government-and,government—state-and‑territory,melbourne-3000,vicFirst posted January 10, 2021 12:47:13Contact Ben WhiteMore stories from Victoria”
The good news is we’re a very welcoming city,” Barr said.
Topics:business-economics-and-finance,business-news,industry,government-and,government—state-and‑territory,melbourne-3000,vicFirst posted January 10, 2021 12:47:13Contact Ben WhiteMore stories from Victoria