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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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.

"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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Source: AAP


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