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Australian economy is strong: Swan

Australians considering accessing their retirement savings as a result of the latest global stock market crash should be very calm, Treasurer Wayne Swan says.

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Source: AAP


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Mr Swan said worried investors should remember the Australian economy was in a stronger position than others.

The markets liked to see governments with firm fiscal policy, such as the federal government's commitment to return the budget to surplus, he said.

"What I would say to them is be very calm and methodical in assessing these events," Mr Swan told ABC Radio on Tuesday.

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"The fact is that this economy is strong, the investments that you have are in very good financial institutions, strong institutions."

Australian shares are expected to resume a five-day slide on Tuesday.


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