Genre: Information/Explanation

In 2009, Foreign Direct Investment (FDI) inflow as a proportion of GDP was USD 22,572 million. The compounded rate from the year 2007 to 2009 declined by 29.55%. There was a year on year decrease of 51.69%. The Foreign Direct Investment (FDI) outflow as a proportion of GDP was USD 18,426 million. There was a year on year decline of 43.86%. From 2005 to 2010, the assets of the Reserve Bank of Australia have been on a steady rise. The banking sector assets reported a decline of 13.74% in the compounded annual growth rate from 2005 to 2010. The current year's growth in the banking sector for 2010 is AUD 31.35 millions. In 2010, Government expenditures exceeded revenues, thereby resulting in a deficit of AUD 15,088 million. The government expenditure increased by 4.31% due to an increase in operating expenses, capital transfers and current grants. The ANZ term deposit provides 6.20% p.a. rate f or amounts from AUD 5,000 to AUD 99,999 on 12 month term deposits. NAB term deposits also provides 6.20% rate, for balance between AUD 20,000 and AUD 49,999. In addition, CBA term deposits for investments of AUD 10,000 to less than AUD 500,000 with a rate of 6.10% for the duration of 12 months. The Westpac Term Deposit provides 6.10% rate for greater 12 to 24 months for an amount greater than AUD 20,000 to less than AUD 50,000. In 2010, the fiscal balance of the country registered a deficit of AUD 58.6 billion, an increase of AUD 28.6 billion from AUD 30 billion in 2009. The country's government expenditure increased by AUD 15.1 billion. Government expenditure was increased due to the rise in current and capital grants by AUD18.6 billion and an increase in the supply of goods and services by AUD 5.1 billion. There was also an increase of AUD 2.6 billion employees' related expenses and AUD 2.6 billion in net acquisition of non-financial assets. The country's fiscal revenue is reported at AUD 298,897 million in 2010, a deficit of 3.64% from 2009 of AUD 309,789. As an impact of global financial crisis the taxation revenue declined, resulting in the reduction of total revenue. National minimum wage order in Australia includes award/agreement free employees at AUD 569.90 a week or AUD 15 per hour, casual loading for award/agreement free employees is at 21 per cent. In addition, there is a special national minimum wage 1, where the productivity of employees is unaffected by their disability and special national minimum wage 2 where the productivity of employees is affected by their disability. The Australian Government has a constitutional democracy. The Government stability is based on the federal divisions which include Commonwealth, state, territory and local levels of Government. In 1901, Commonwealth of Australia was formed when six independent nations joined together and became states of a new nation. The federal Government powers are divided between central Government and individual states. In state and territory Government, the state Government has powers in constitutions and structure of legislature, executive and judiciary. The territory Government can be administered by Commonwealth Government or have right of self Government. The current Prime Minister is Hon Kevin Rudd MP from the Australian Labor Party . The country has transparent and efficient regulatory environments. The restrictions on business set up are minimal and the main focus is towards growth and investments. The Australian economic freedom score is 82.5, making its economy the 3 rd freest in the 2011 Index. Australia is ranked 3 rd out of 41 countries in the Asia -- Pacific region, and its overall score is lower than the global and regional averages. The Corruption Perceptions Index (CPI) is a survey to measure the perceived level of corruption across countries worldwide. Australia is ranked 8 th on the CPI index indicating low levels of corruption across public departments. CPI ranking of the country rose from 9 th in 2008 to 8 th in 2009 with a score of 8.7 and a confident range of 8.3 to 9.0 indicating the increase in perceived levels of corruption. In 2010, the CPI remained stable at 8 th rank with a score of 7.5 to 9.2. The Freedom of Information Act 1982 in Australia had laid certain rights to the public as- firstly, the Government must provide proper information about all operations and the manuals and other documents should be published. Secondly, they must provide access to documents unless there is exemption in legislation. The high court is the final court of justice. It has Chief Justice and six other judges who can take decisions either individually or together. This constitution includes two types of jurisdiction in the High Court: Original Appellate In the country, there are various Supreme Courts State & Territory Courts which are as follows: The majority of the population i.e. about 67.5%, fall under the age group of 15-64 years. Around 18.9% of people belong to 0-14 year's age group. The 65 and above age group constitutes 13.6 % of the total population. The average age of the population in 2010 was 36.9 years. The median age of the country increased by 40.8% from the previous two decades. The median age from the year 2009 and 2010 remains stable at 36.8 years. From 2005 to 2010, the infant mortality rate was recorded as 4.5 per 1,000 live births. The average life expectancy for men is 79.1 years and for women is 83.8 years. The country is ranked 53 rd on the Human Poverty Index with a score of 28.1. The Human Poverty index focuses on the proportion of people below certain threshold levels in each of the dimensions of the human development index - living a long and healthy life, having access to education, and a decent standard of living. The country ranks 56 th out of 182 countries on the Human Development index 2010 conducted by the United Nations. The HDI provides a composite measure  of three dimensions of human development: living a long and healthy life (measured by life expectancy), being educated (measured by adult literacy and gross enrolment in education). The education system in Australia has consistently improved over the past few years. The education system includes Primary education, Secondary education (Secondary Schools / High Schools), Tertiary education in Universities and / or TAFE [Technical and Further Education] Colleges). In Australia, the schooling system starts from kindergarten or preparatory year followed by 12 years of primary and secondary school. In secondary school, the students can appear for Government endorsed certificates, recognized by all Australian universities and vocational education and training institutions. In the states and territories, it is the primary responsibility for state Government schools to collect the funds. In addition, they also provide assistance to non-Government schools. The non-Government schools have religious affiliation. The two-thirds of non-Government school students are in Catholic schools. The healthcare system in Australia includes the Government, private and medical practitioners. The Government provides three schemes i.e., Medicare, Pharmaceutical Benefit Scheme and 30% health insurance rebate. In 2008, the Government expenditure on healthcare was 9.1% of GDP.