Treasurer Joe Hockey could be enjoying a more buoyant economy when voters goes to the polls next.
That's the prediction of the International Monetary Fund in its latest Asia and Pacific economic outlook released on Thursday.
The Washington-based institution says supportive monetary policy and a weaker exchange rate will support non-mining activity in Australia, lifting economic growth to 2.8 per cent in 2015 and to 3.2 per cent in 2016.
Next year's forecast is a fraction stronger than the IMF was predicting in October, bringing the economic expansion to around its long-term trend and a level that stands a greater chance of absorbing new entrants in the labour market.
However, while the economy grew by 2.7 per cent in 2014 and stronger than the 2.1 per cent in 2013, the IMF said "this masks a substantial slowdown in the second half of the year".
"This reflects a sharp fall in the terms of trade, the winding down of large resource-related investments and falling public investments."
More broadly, the report released in Singapore says the economic outlook for Asia and Pacific remains favourable, with the region projected to remain the global growth leader over the medium term.
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