PM: Australian economy better than most developed countries

CANBERRA, Dec. 3 (Chinese media) -- Australian Prime Minister Kevin Rudd said here on Wednesday that Australia's economy was better than most developed countries.

Speaking at the Australian Chamber of Commerce and Industry annual dinner, Rudd said while most other countries are contracting, Australian economy continues to grow.

Though the whole financial situation remained uncertain, Australia's outlook was better than much of the developed world, he said.

However, the prime minister warned that Australia would not be able to rely on the rivers of gold from the mining industry to such a significant extent into the future.

For the moment, Australia would continue to reap the benefits of high commodity prices, which were locked in until March next year.

"We do not anticipate a full unwinding of the income boost delivered to the Australian economy through the mining boom. Nevertheless we anticipate a gradual unwinding of the boom, which will have an impact on our national income over the medium term. This means Australia will be in a very different economic environment to recent years," he added.