Australians get early Christmas gift

Millions of Australians were given cash from the government's piggy bank Monday and ordered to go on an anti-recession spending spree, dpa reported.

"Go out and spend the money," Prime Minister Kevin Rudd said as he waved goodbye to half the 21-billion-Australian-dollar (13-billion-US-dollar) budget surplus built up over the previous six years. "By spending their payments, families and pensioners will help create Australian jobs and strengthen the Australian economy."

Even 50,000 Australians living abroad will find that Canberra has deposited money in their bank accounts.

CommSec economist Craig James welcomed the cash hand-outs, warning that economic growth in the September quarter was just 0.1 per cent and that the spending package was needed to avert a recession.

"It's certainly going to push us closer to positive growth rather than negative growth," he said.

Australian Retailers Association head Richard Evans said those in receipt of the money - mainly pensioners and couples with young children - should get rid of it pronto.

"If people are saving for a rainy day, I can tell them that it's pouring outside," he said. "If they don't spend it, they're likely to put their job at risk."

Because shops are full of stuff made abroad, the global economy will be stimulated too. In fact, some economists argue that factories in China will benefit the most.

Australia Greens leader Bob Brown went public with qualms about Rudd's injunction to spend rather than save. He noted that debt propelled the globe into the financial crisis and that paying off debt was more sensible that buying more expensive Christmas presents.

"I think he would have been much wiser to have told people to be good managers, to use the money wisely, and to invest it," Brown said. "Make sure you keep a little aside for the unforeseen that are coming down the line in a time of global financial crisis."

Australians have more debt on their credit cards than even Americans. The country itself has run a current account deficit on the balance of payments for more than a decade because of its reliance on foreign capital for investing in mines and farms.

Finance Minister Lindsay Tanner urges people not to fret about debt but get to the shops and spend.

"There are obviously some people who have very significant debt but people can make their own decisions, their own choices," he said. "If everybody retreats into their shells then that will make the situation much worse."

An avalanche of cash, delivered in a one-off payment of thousands of dollars to low-income households, has welfare agencies worried, said opposition Liberal Party welfare spokesman Tony Abbott.

"Certainly there are very credible fears that at least some families are going to be spending this money on booze and gambling and so on and that's a pity," he said.

Outback towns with large Aboriginal communities are bracing for a surge in domestic violence as cheques are cashed and pallets of alcohol shifted.

National Seniors Association spokesman Michael O'Neill claimed almost all the 10.4 billion dollars would be wisely spent.

"There'll be no plasma televisions or Lamborghinis being bought out of this money, you can bet on that," O'Neill said. "It'll go on day-to-day things like a cup of coffee on a weekly basis with friends, or going to the movies."

Weekly actual topics in Azerbaijan (April 16-20)
Weekly actual topics in Azerbaijan (April 16-20)
Weekly tenders in the region (April 16-20)
Weekly tenders in the region (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Loading Bars
PMCG reveals August dynamics of hotel prices in Georgian regions
Azerbaijan expanding use of modern irrigation systems
SOCAR starts repair of submersible electric motors
Russia records 5,905 new daily coronavirus cases
Apple to launch first online store in India next week
Israel imposes second coronavirus lockdown during high holidays
Ambassador: Italian companies interested in Azerbaijan
Gazprombank: Azerbaijani economy to rebound by year-end
Uzbekistan resumes international transport communication
Impetus to be given to cargo traffic through ports of Kazakhstan, Turkmenistan
Real Gross Domestic Product declines in Georgia
EU: Cooperation with Azerbaijan on oil, gas supply continues despite COVID-19 pandemic
SOCAR Turkey’s Kayserigaz expanding to new areas
Uzbek confectionery to be exported to China
Kazakhstan developing mineral resources data system
Letter of Azerbaijan's FM on Armenia's illegal activities in occupied Azerbaijani lands published as UN document
Timeline for commissioning railway to Azerbaijan's Gabala revealed
COVID-19 cases exceed 3,000 in Georgia
UK retail recovery continues apace in August
Ericsson to acquire Cradlepoint in $1.1 billion deal
Kazakhstan's revenue from transporting cargo via internal water surges
Azerbaijan's State Customs Committee, World Bank to implement joint projects
Georgian APM Terminals Poti handles out of gauge cargo with mobile harbor cranes
GIE highlights Southern Gas Corridor’s role in ensuring South-East Europe’s energy security
Turkmenistan, Saudi Arabia to increase partnership in oil, gas sector
Number of coronavirus cases in Uzbekistan approaches 50,000
New textile shops opened in Turkmenistan
Azerbaijani currency rates for Sept. 18
Emirates sets up Kosher Arabia for airline food
Number of Turkish migrant workers in Israel rises
European gas infrastructure to help deliver Green Deal objectives
Kazakh demand for real estate in Turkey grows
Azerbaijan’s postal operator joins Central Bank's search system
Road expansions on Azerbaijani-Russian border
Iran discloses details of exports via Kermanshah Province
Global marketed utilization for floating rigs could dip to 56%
Oil eases as U.S. production returns after storm
Armenia violates ceasefire with Azerbaijan 38 times
Kazakhstan’s Almaty Power Stations JSC opens tender to buy pumps
Georgian Mingrelian Tea company plans to increase list of exporting destinations
Turkey increases trade turnover with US
TAP project almost 98% completed
Apple to launch first online store in India next week
Chinese mainland reports no new locally-transmitted COVID-19 cases
China’s Universal Energy sets up remote management to maintain its renewable projects in Kazakhstan
Trump will deliver U.N. speech next week from White House
Bolivian interim President Anez withdraws from election race with socialists ahead in polls
Biden lambastes Trump over 'close to criminal' COVID-19 response
COVID-19 deaths in Brazil close to 135,000
Italy's exports and imports grow in July
Global COVID-19 cases surpass 30 mln -- Johns Hopkins University
ByteDance plans TikTok IPO if U.S. clears deal
Eight coronavirus patients die in Moscow in past 24 hours, says crisis center
Trump to announce $13 billion in farm aid on Thursday
Germany donates 63 mln USD to UN relief agency's program
Minsk forced to shut down borders with Lithuania, Poland and boost control with Ukraine
Turkey's trade turnover with Russia rising despite pandemic
Israel ready to deepen bilateral relations with Kyrgyzstan
Foreign Minister – Rescheduling of elections is not considered
Turkey records heavily low cargo shipment through Antalya Airport
Iran may allow increase of cargo transportation limits for Azerbaijan
Trump plans executive order to punish arms trade with Iran
U.S. charges three Iranians over satellite tech firm hacking
23 soldiers, 31 militants killed in clashes in Afghanistan: officials
UAE reports 786 new COVID-19 cases, 82,568 in total
Kazakhstan increases crude oil exports to Italy in 1H2020
Kazakhstan increases volume of cement imports from Turkey
South Pars Gas Company announces tender to buy insert
Value of property owned by Georgian banks increases
Kazakhstan's export to Uzbekistan slightly down amid COVID-19
MP: Resettlement of occupied Azerbaijani territories - crime
Nokia expands 4G footprint of Azerbaijan’s Azercell
Azerbaijani parliamentary delegation to make official visit to Russia
Kazakhstan taking important steps to pass to more sustainable development model
Share of Iran's GDP in water, gas and electricity sectors rising
Azerbaijani finance minister talks about priorities of countries during COVID-19
Program of 'Produce in Georgia' to be expanded
OSCE/ODIHR to send short-term, long-term observers to Georgia’s parliamentary elections
Azerbaijani silk may enter new global markets
Russian MFA: Necessary to concentrate on restoration of negotiations on Karabakh conflict settlement
EBRD intensifying activity in Azerbaijan
Kazakhstan eyes introduction of int'l cargo vehicles measure system
Car production up in Uzbekistan
Chinese Sinohydro company plans to implement new reconstruction project in Georgia
Georgia, MasterCard sign deal on cooperation
Uzbek small businesses to be funded by EBRD
Demand of Azerbaijani banks for foreign currency considerably increases
Georgian Glenberries plans to expand its production
TBC Capital predicts economy to return to pre-crisis levels in Georgia
Kazakhstan lowers imports of Turkish-made leather goods
Russia reports over 5,700 new coronavirus cases
Armenia's threat to regional peace raised at NATO committee's meeting
El Al to restart passenger flights next month
U.S. weekly jobless claims stuck at higher levels
Water resources in Uzbekistan shrinking
EU launches project to strengthen blood safety system in Georgia
Ukraine discloses volumes of oil imports from Azerbaijan
Georgia sees decline in aviation oil imports
Azerbaijan confirms 140 more COVID-19 recoveries
Georgia approves amendments to law on development of free trade and competitive market
All news