IN boost for the Gillard Government, Wayne Swan has won the
prestigious global award of
Finance Minister of the Year.
The only other Australian Treasurer to win the title from Euromoney magazine was
Paul Keating
in 1984, when he was dubbed the "world's greatest treasurer" by Bob Hawke.
Australia's longest-serving treasurer
Peter Costello was never awarded the prize.
Mr Swan will be presented with the gong at a reception in Washington this week.
Euromoney said he won for his
"swift response"
to stop Australia falling into recession amid the global financial crisis and for maintaining one of the world's best-performing economies.
"Mr Swan receives his award for his
careful stewardship of Australia's finances and economic performance
both during and since the global financial crisis," Euromoney said.
World Bank president Robert Zoellick said
the award strengthened Mr Swan's "global influence"
.
An International Monetary Fund report predicts
Australia's economy will grow by 3.3 per cent next year - far ahead of the 1.9 per cent average for advanced economies.
Most economists say the Reserve Bank could keep official interest rates on hold for another 12 to 18 months.
They tip the RBA will wait to see if worries about a double-dip recession in the US and Europe and rising Australian unemployment will contain inflation.
The RBA's cash rate has been steady at 4.75 per cent since last November - down 200 base points on November, 2007