Politics and Economy in Australia

Australia is one of the most developed markets in the world with a capitalist economy worth approximately US$1.6 trillion. The nation is a G7 member. The Reserve Bank of Australia headquartered in Sydney.

Australia is a constitutional monarchy run through a federal government.  While Queen Elizabeth II of England is the country’s figure-head, operational power is held by the government, currently the Liberal Party.  The party leader, Tony Abott, is Australia’s Current Prime Minister. The federal government is based in Canberra.